A bungalow at 44 Faber Drive (pictured) has been put up for sale by Expression of Interest (EOI), according to a statement by Knight Frank.
With features that include a garden and swimming pool, the site has an area of 11,719 sq ft and is adjacent to The Clementi Mall, Clementi MRT station/Bus Interchange, and NUS.
The property has a guide price of S$12.5 million and can be subdivided into two plots to make way for smaller detached homes.
“With the financial crisis in Europe and concern for slower economic growth, even the wealthy who are interested in residential properties in Singapore are careful where to park their money,” noted Knight Frank.
The latest cooling measures imposed on residential properties have made buyers more cautious when it comes to the right location and type of housing for investment or owner-occupation.
Knight Frank added that landed homes such as semi-detached, terrace and small bungalows have shown resilience due to their reasonable prices.
The EOI for the Faber Drive bungalow will close on 20 July.
Related Stories:
Singapore ranks 13th for property transparency globally
Farrer Drive site awarded to Singland
Shoebox units may grow 70 percent over next three years