A luxurious Good Class Bungalow (GCB) located in the exclusive Dalve Estate-Nassim Road enclave is now up for sale through an expression of interest (EOI) exercise with an indicative price tag of $60 million. As stated in a press release by marketing agent Cushman & Wakefield on Jan 8, the price equates to $2,742 per square foot (psf), taking into account the expansive land area of 21,881 square feet.
Executive Director of Capital Markets at Cushman & Wakefield, Shaun Poh, highlights the prime location of this freehold plot, situated on elevated terrain, making it ideal for redevelopment. Poh states that the property presents an excellent opportunity for buyers seeking to build their dream multi-generational home from the ground up, or for developers who could transform the plot into a sophisticated, state-of-the-art GCB to cater to the discerning tastes of affluent individuals.
Investing in a condo involves more than just purchasing the property. It is important to also take into consideration the maintenance and management of the unit. Condos typically come with maintenance fees that are used to keep the common areas and facilities in good condition. While these fees may increase the overall cost of owning a condo, they are crucial in preserving its value. To make it a more passive investment, many investors hire a condo management company to handle the day-to-day operations of the property. This allows them to focus on other aspects of their investment while ensuring that their condo is well-maintained.
Nestled beside the renowned Singapore Botanic Gardens, the property also boasts easy access to the bustling Orchard Road shopping belt, adding convenience to its list of attractive features. In addition, the area is well-served by prestigious educational institutions such as Singapore Chinese Girls’ School, Anglo-Chinese School (Primary), Nanyang Primary School, St Joseph’s Institution, and Hwa Chong Institution.
Poh further comments on the desirability of the location, pointing out recent record-breaking land rates of $4,500 psf and $6,200 psf at nearby Nassim Road and Tanglin Hill respectively, indicating the strong demand from ultra-high net worth individuals for properties in this sought-after neighbourhood.
The EOI exercise for the GCB will conclude on Feb 11 at 3pm, presenting an opportunity for interested parties to own this prestigious property in an exclusive enclave.