When purchasing a condo, it’s crucial to take into account the maintenance and management of the property as well. Most condos require maintenance fees which cover the maintenance and upkeep of shared spaces and amenities. While these fees may increase the overall cost of ownership, they also guarantee that the property is well-maintained and preserves its value. Opting for a property management company can assist investors in handling the daily management of their condos, transforming it into a more passive investment. Investing in a Condo includes considering its maintenance and management. These fees take care of upkeep for common areas and amenities, ensuring the property retains its value. Hiring a property management company can make owning a condo a more hands-off investment.
SRI to auction rare 99-year leasehold semi-detached house with guide price of $3.65m
A rare 99-year leasehold semi-detached house in District 16 will be up for auction with a guide price of $3.65 million. The three-storey property sits on a 3,034 sq ft corner plot on Kew Heights.The price tag reflects a land rate of $1,203 psf and is significantly lower than other properties in the area, according to Mok Sze Sze, managing partner of auctions and sales at SRI.According to URA Realis data, there have been seven sales of semi-detached houses in the Kew Vale estate between 2023 and 2024 with an average land rate of $1,213 psf. This is an increase from the average land rate of $1,002 psf across seven transactions between 2021 and 2022.Read also: Freehold semi-detached house at Siglap Road up for auction a third time at $6.9 milAdvertisementAccording to Mok, the property will be offered with vacant possession and is ideal for extended or multi-generational families. The three-storey house offers a floor area of 4,436 sq ft and has a living hall with a double-volume ceiling, an adjoining dining area, a kitchen and a helper’s room on the ground level.The upper two levels house six bedrooms, a family area and a storeroom. The property also has a car porch and a backyard area.Mok adds that potential buyers may also have the opportunity to convert some of the open spaces into additional bedrooms. The property last changed hands in November 2021 for $3.19 million ($1,051 psf).It is located near major motorways such as East Coast Parkway (ECP) and will be served by the upcoming Bedok South MRT Station along the Thompson-East Coast Line when it opens in 2H2026. Several schools are also located within a short distance from the property, including Temasek Primary and Secondary Schools, Bedok South Secondary and Bedok View Secondary. The house is scheduled to be auctioned on March 15, 2022.