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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

Sentosa Cove bungalow asks a whopping S$108m

Posted on 3 May 2012 | Comments Off

A two-storey bungalow located at Ocean Drive in Sentosa Cove has been put up for sale at a whopping price of S$108 million, which works out to around S$9,000 psf.

Multiple listings of the 103-year leasehold property were listed on PropertyGuru in the past month, with a total of three agents marketing the property – an indication that the seller hopes to close the deal soon.

Apart from the price being negotiable, the advertisements stated that the property is sited on a land area of almost 20,000 sq ft – the largest on Sentosa Cove. In addition to having six bedrooms, sea views and its own swimming pool, it is within close proximity to Harbourfront MRT station, the central business district (CBD) and VivoCity mall.

Commenting on the high asking price, Robert Jones, one of the agents’ marketing the property on behalf of the seller, said: “The site is huge, being located on two plots and has sea views.”

According to Jones, the bungalow which is owned by a Singaporean, has not seen much interest and has been marketed for about a month.

“The lack of interest isn’t surprising,” said Tejaswi Chunduri, Regional Analyst at PropertyGuru.

“Such a high asking price is unusual and despite the various facilities and perks like the sea view, pool and prestigious location, sale prices for other projects in the area have paled in comparison to what’s being asked,” she added.

The previous record for a sea-fronting bungalow on Sentosa Cove was for a home at Cove Drive back in February this year, which was sold for S$39 million. This works out to about S$2,448 psf for a land area of 15,929 sq ft. The 99-year leasehold property has five bedrooms, a spacious living area and an entertainment room.

The sale price for the Ocean Drive bungalow is expected to beat the S$39 million mark.

Source: PropertyGuru May 3, 2012