Casa Fidelio, a landed development located at Fidelio Street in District 15, is set to go en bloc sale on March 20. The reserve price for the site is $24 million, which translates to a land rate of $1,388 psf. According to PropNex Realty, the marketing agent for the site, this is the first attempt at an en bloc sale by the owners of Casa Fidelio.
Built in 1990, Casa Fidelio comprises of seven strata-titled cluster terraces and sits on a land area of approximately 17,293 sq ft. The land is zoned for residential use and designated for two-storey mixed-landed housing.
Situated in a landed housing enclave, Casa Fidelio is just a short drive away from various amenities such as East Coast Park, dining and lifestyle options in the Katong and Joo Chiat precincts, and shopping malls like Siglap Village, Siglap Centre, and Bedok Mall.
With the expected completion of Kembangan Wave, an integrated public housing project next to Kembangan MRT Station, more amenities will be available, including a community club with an eating house, supermarket, and outpatient healthcare facility.
Schools in the vicinity include Opera Estate Primary School, St Stephen’s School, and Victoria School.
According to PropNex, the site can be redeveloped into luxury cluster houses, landed terraces or a standalone property. The regular shape and ample size of the site provide developers with flexibility in designing a project that is both functional and visually appealing. It is well-positioned for a transformation into a modern residential development that caters to the demand for landed homes in the East Coast area, says Laurence Wong, PropNex’s head of collective sales.
Records show that the last transaction at Casa Fidelio was in September 2021, when a house with a land area of 1,894 sq ft was sold for $2.27 million ($1,198 psf).
PropNex also highlights that in 2024, only two freehold landed homes on Fidelio Street were transacted: A terrace house with a land area of 3,423 sq ft that sold for $9 million ($2,629 psf) and a semi-detached house on 2,035 sq ft of land that fetched $5.38 million ($2,643 psf). The agency adds that a corner terrace on Jalan Bangsawan, off Swan Lake Avenue, was transacted at $3,541 psf in December 2024, which is less than 400m away from Casa Fidelio.
The tender for Casa Fidelio will close on April 22 at 3pm. Interested buyers can enquire about the latest listings of Casa Fidelio properties.
One crucial factor to keep in mind when considering a condo investment in Singapore is the government’s property cooling measures. In the past, the Singaporean government has implemented several measures to control speculative buying and maintain a steady real estate market. These efforts include the implementation of the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreigners and individuals purchasing multiple properties. While these measures may affect the initial profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a secure investment environment. Additionally, Singapore Projects offer great potential for investors seeking to diversify their portfolio in this regulated market.