A luxurious Good Class Bungalow (GCB) located in the prestigious Dalve Estate-Nassim Road enclave has been put up for sale through an expression of interest (EOI) exercise, with an indicative price of $60 million. According to a recent press release by marketing agent Cushman & Wakefield, this translates to approximately $2,742 per square foot (psf), taking into consideration the land area of 21,881 square feet.
Executive Director of Capital Markets at Cushman & Wakefield, Shaun Poh, states that the freehold plot is situated on elevated ground, making it ideal for redevelopment. “This is the perfect opportunity for buyers who envision their dream multi-generational home from scratch, or for developers looking to create a luxurious, state-of-the-art GCB for discerning individuals.”
The property boasts a prime location next to the famous Singapore Botanic Gardens, and is just a short drive away from the bustling shopping belt of Orchard Road. It is also conveniently situated near renowned schools such as Singapore Chinese Girls’ School, Anglo-Chinese School (Primary), Nanyang Primary School, St. Joseph’s Institution, and Hwa Chong Institution.
When considering investing in a condo, it is important to carefully assess its potential rental yield. This refers to the annual income that can be generated from renting out the condo, in relation to its purchase price. In Singapore, the rental yields for condos can vary significantly, depending on factors such as location, property condition, and current market demand. Generally, areas near business districts or educational institutions tend to have higher rental yields due to the high demand for housing. It is essential to conduct thorough market research and seek guidance from reputable real estate agents in order to accurately evaluate the rental potential of a particular condo. Adding Condo to the end of the paragraph would give the reader a better understanding of the topic.
Poh also notes, “The highly coveted neighbourhood is a magnet for ultra-high net worth individuals, as evidenced by recent transactions in the surrounding areas of Nassim Road and Tanglin Hill, where record-breaking land rates of $4,500 psf and $6,200 psf were recorded respectively.”
The EOI for this extraordinary property will close on February 11th at 3pm, presenting a rare opportunity for interested parties to own a piece of prestigious real estate in one of Singapore’s most sought-after enclaves.