A BUNGALOW at Faber Drive has been put up for sale by expression of interest, with a guide price of $12.5 million. The guide price translates into nearly $1,067 per square foot (psf), based on land area of about 11,719 square feet.
A two-storey bungalow with a build-up of 4,400 sq ft stands on the site. It also has a swimming pool.
Said Mary Sai, executive director, investment (commercial sales), of marketing agent Knight Frank: "One sector of the residential market which is quite resilient is the landed properties such as small bungalows, semi-detached, and terrace houses.
"Transactions of such properties are still quite active as these are often the dream homes of many Singaporeans. Furthermore, their prices are generally within affordable and reasonably range."
This is in spite of the slew of cooling measures imposed on residential properties, she noted.
The site is within close proximity of The Clementi Mall, Clementi Bus Interchange/ MRT Station, and the National University of Singapore. Its land size is capable of being subdivided into two plots for smaller houses which require a minimum size of 4,305 sq ft, added Ms Sai.
The expression of interest will close on July 20 at 3pm.
This article was first published in The Business Times.