A 99-year leasehold semi-detached house in District 16 is set to go under the hammer at SRI’s next auction on March 15, with a guide price of $3.65 million. The three-storey property occupies a 3,034 sq ft corner plot at Kew Heights and offers a spacious living area with a double-volume ceiling, an adjoining dining area, a kitchen, helper’s room and six bedrooms.
The property, which has a floor area of 4,436 sq ft, also comes with a car porch and a backyard area. Being a mortgagee sale, this is the first time the property will be offered for sale via auction.
According to Mok Sze Sze, managing partner of auctions and sales at SRI, the spacious layout and location make it an ideal property for extended or multi-generational families. She mentions that potential buyers may also have the opportunity to convert some of the open areas into additional bedrooms.
At a guide price of $3.65 million, the property reflects a land rate of $1,203 psf. This is considered one of the lowest prices in the area, as reflected by a URA caveat from November 2021, where the property was last transacted at $3.19 million ($1,051 psf).
Last year, two other 99-year leasehold landed properties in the Kew Vale estate were also sold – a three-storey semi-detached house along Kew Drive sold for $3.35 million, and a three-storey terraced house along Kew Heights sold for $3.26 million. Both properties were sold in January and February, respectively, and had an average land rate of $1,398 and $1,417 psf.
The average land rate for semi-detached houses in the Kew Vale estate has seen an increase in recent years, with URA Realis data showing that seven transactions in 2023 and 2024 achieved an average land rate of $1,213 psf. This is up from the average land rate of $1,002 psf across seven transactions in 2021 and 2022.
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Aside from the attractive land rate, the Kew Vale estate also offers a convenient location, with easy access to major motorways such as the East Coast Parkway (ECP). It will also be served by the upcoming Bedok South MRT Station along the Thomson-East Coast Line, scheduled to open in the second half of 2026.
The property also boasts a range of educational institutions nearby, including Temasek Primary and Secondary Schools, Bedok South Secondary School, and Bedok View Secondary School.