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Faber Drive bungalow goes on sale

Posted on 28 Jun 2012 | Comments Off

A bungalow at 44 Faber Drive has been put up for sale by Expression of Interest (EOI), according to a statement by Knight Frank.

With features that include a garden and swimming pool, the site has an area of 11,719 sq ft and is adjacent to The Clementi Mall, Clementi MRT station/Bus Interchange, and NUS.

The property has a guide price of S$12.5 million and can be subdivided into two plots to make way for smaller detached homes.

“With the financial crisis in Europe and concern for slower economic growth, even the wealthy who are interested in residential properties in Singapore are careful where to park their money,” noted Knight Frank.

The latest cooling measures imposed on residential properties have made buyers more cautious when it comes to the right location and type of housing for investment or owner-occupation.

Knight Frank added that landed homes such as semi-detached, terrace and small bungalows have shown resilience due to their reasonable prices.

The EOI for the Faber Drive bungalow will close on 20 July.

Source : PropertyGuru – 2012 Jun 28

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Posted in Luxury Property, Property Market / Real Estate

Tagged Bungalow, Faber Drive, Singapore Property

Big-ticket bungalow deals reasonably priced

Posted on 26 Jun 2012 | Comments Off

Some big-ticket bungalow deals took place recently on Sentosa Cove (pictured) and the Good Class Bungalow (GCB) areas of mainland Singapore.

One Singaporean bought a two-storey freehold bungalow with five bedrooms and a study at White House Park for S$24.8 million or around S$1,650 psf. RealStar Premier represented the buyer while the seller was represented by DTZ.

At Jervois Hill, a 15,095 sq ft property was sold for S$21 million by Newsman Realty. It was bought in 2010 for S$19 million from Vincent Tan Kim Yong, Group Chairman and CEO of Advanced Integrated Manufacturing Corp.

Over in Sentosa Cove, a 99-year leasehold property was sold for S$22.2 million or around S$2,787 psf.

Samuel Eyo, Director of Prestige Homes at Savills Singapore, said that end-users have dominated the GCB market and transacted prices are reasonable.

KH Tan, Managing Director of Newsman Realty, noted that the GCB market picked up in the first half of this year from a slowdown after the additional buyer’s stamp duty (ABSD) was implemented in December last year.

“I would say prices are quite stable these days.”

He added that transactions at Sentosa Cove saw a notable decline due to the 10 percent ABSD for foreigners who are not permanent residents (PRs).

Sentosa Cove is the only place in Singapore where landed homes can be bought by non-PR foreigners subject to approval by the Land Dealings (Approval) Unit.

Source : PropertyGuru – 2012 Jun 26