Bungalow on Fernhill Close going for more than $22 mil

Located in Singapore’s exclusive District 10, a freehold bungalow on Fernhill Close has been put up for sale for an asking price of more than $22 million. The two-storey property sits on a 7,386 sq ft plot, with the minimum asking price of $2,978 psf.

Amenities such as a swimming pool, tennis courts, gym, and other facilities are available in the complex, making it the perfect spot for both recreational and leisure activities. The Myst Bukit Timah has been designed to provide ultimate comfort, security and privacy. It also offers a unique lifestyle to its residents, with many attractions and activities to explore and enjoy. With its convenient location and world-class facilities, The Myst Bukit Timah is a great place to call home for anyone who appreciates the beauty of nature and modern luxury.

Sitting on a three-storey mixed-landed estate near the Nassim Road Good Class Bungalow (GCB) area, the bungalow was built in the 1990s. Boasting a 40m wide frontage at the end of a cul-de-sac, the sale offers an opportunity for the buyer to redevelop it.

Chia Mein Mein, head of capital markets (land and collective sale) at Knight Frank Singapore, shared that buyers looking to build a new home may find this property appealing due to its exclusive location and its proximity to the Nassim Road GCB area and other landed homes.

The property can be redeveloped into a luxurious three-storey bungalow, niche semi-detached or terrace houses, subject to approval from the relevant authorities. This is in line with a recent record land rate in the neighbourhood when three GCBs at 42, 42A, and 42B Nassim Road were sold for about $4,500 psf.

According to Chia, buying sentiment in the landed market will remain buoyant as there is increasing affluence among Singaporeans and new high-net-worth clients. Interest is expected from homebuyers, investors and developers due to the prime location of the property, its coveted address and the scarcity of landed homes in the vicinity.

To better understand the trends and price movements of landed houses in this area, buyers can use EdgeProp’s Landlens tool. The tender for the sale of this bungalow will close on July 25.

Affluent buyers keen to acquire the scarce housing format in Singapore will find this property a golden opportunity. With a record land rate recently achieved in the neighbourhood, the sale of the Fernhill Close bungalow presents an ideal chance to get a piece of prime real estate.