Read more Singapore’s redevelopment – New and improved areas

The psf estimating looks at positively to a landed house at 29 Chestnut Crescent which was sold for $8.8 million or $1,103 psf in Q3 2018.

The freehold property is arranged inside the GCB region in Bukit Panjang. Eminently, there are just 39 bunches inside the city express that have been gazetted for GCBs.

“GCBs are viewed as the crème de la crème of the Singapore property market and this displays an uncommon opportunity to claim one of them at a generally reasonable cost,” said Steven Tan, chief of capital markets and speculation administrations at Colliers.

“A key fascination lies in its redevelopment potential – from the present single-story home to a more than two story extravagance property.”

He included that the purchaser may likewise buy – subject to applicable endorsements – a contiguous state land estimating 2,836.3 sq ft, “which could help bring down the general compelling area rate underneath $975 psf”.

Situated almost a few MRT stations, for example, Cashew and Bukit Panjang MRT stations, the property is likewise near Pending LRT station and a short drive from Bukit Timah Nature Reserve and the Dairy Farm Quarry.

Different enhancements inside the zone incorporate Petir Park, Hillion shopping center and schools, for example, Assumption English School, Bukit Panjang Primary School, Fajar Secondary School and CHIJ Our Lady Queen of Peace.

The GCB will be offered available to be purchased at a sale on 30 September at Amara Singapore, Level 3, Connection Room.