A freehold bungalow located in District 10’s prime Nassim Road Good Class Bungalow (GCB) area has been put up for sale with a minimum asking price of more than $22 million, announced marketing agent Knight Frank. With a wide frontage of 40m, the two-storey house on Fernhill Close occupies a 7,386 sq ft plot.

Built in the 1990s, the property offers an attractive opportunity to redevelop it into a brand new luxurious three-storey bungalow, niche semi-detached or terrace houses. According to Knight Frank, it could also be developed for large multi-generational or extended families looking to build a new home.

Chia Mein Mein, head of capital markets (land and collective sale) at Knight Frank Singapore, noted that buying sentiment in the landed market will remain buoyant. Citing the example of three GCBs at 42, 42A, and 42B Nassim Road sold for around $4,500 psf in April this year, she concluded that the sale of this Fernhill Close bungalow could attract keen interest from buyers, investors and developers due to its prime location and sought-after address.

EdgeProp’s Landlens tool can be used to determine the trends and price movements of landed properties in this area.

With a tender deadline of July 25, this Fernhill Close property offers a rare chance to acquire a limited edition of housing in a city where land is a scarce resource.

Providing potential homebuyers with a selection of 1 to 5-bedroom units with top-notch internal finishes, Altura EC Bukit Batok is an upcoming residential development that is worth looking out for. Residents at Altura EC Bukit Batok are able to enjoy a variety of amenities nearby such as supermarkets, shopping malls, cafes and so much more.

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Singapore remains ever-resolute in its attempts to provide for limited housing options. Figures for the first quarter of 2023 show a 28% expansion in the total worth of transactions for landed homes, amounting to $1.4 billion.

The exclusiveness of this neighbourhood is further enhanced with its enviable proximity to the Nassim Road GCB area and other landed homes within the Fernhill estate. Buyers will benefit from the convenience and seclusion of this sought-after area.

This Fernhill Close bungalow is a rare opportunity for anyone wishing to own or develop a piece of land in the city. Despite such property being scarce, record land rates have been achieved in this vicinity in recent times.