Freehold Land Parcel East Coast Landed Estate Sale 38 Mil
in 2020 The exclusive sale of a large freehold land parcel located at Jalan Jamal and Elite Park Avenue, off Upper East Coast Road in District 15, has been announced by the sole marketing agent, ETC. The 35,528 square feet site is available for tender and is being offered at a price of $38 million, equivalent to $1,070 per square foot.
The land is zoned for three-storey mixed-landed housing and falls under the URA Master Plan 2019. It offers a blank canvas for developers to build various configurations of landed housing to their preference, according to ETC’s press release on February 18.
According to Swee Shou Fern, ETC’s Head of Investment Advisory, the site’s appeal is further enhanced by its vacant plot, which is in a regular shape, providing developers with the opportunity to create a bespoke landed housing project without constraints from existing structures or the need for demolition.
The site’s prime location is within walking distance of Siglap MRT Station on the Thomson-East Coast Line, and is also near amenities such as Parkway Parade and i12 Katong shopping malls, both approximately a 10-minute drive away, as well as East Coast Park.
Swee believes that the site will garner strong interest from developers due to the steady capital appreciation of landed properties in District 15. She cites data from URA, which shows that landed property prices in the district have seen a Compounded Annual Growth Rate (CAGR) of 5.2% from 2015 to 2024, surpassing the 4.3% CAGR recorded for landed homes islandwide over the same period.
The tender for the site will close on March 18 at 5pm. Interested buyers can check out the latest listings for Landed properties on the Ask Buddy platform to assist with their investment decisions, such as the most unprofitable landed transactions in the past year, price trends of HDB, Condo, and Landed homes, current listings for landed property, and transactions with the highest profits in the past year.
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