The Singapore property market has been on the rise lately, and Property Giant has been making headlines with their latest achievement. Recently, they set a new benchmark by recording the highest PSF pricing for landed property (non-CGB).
The sale that led to this achievement involved an intermediate terraced house at 1B Chancery Lane sold for a whopping $7.358 million or $4,456 psf. This house sits on a 1,615 sq ft, 999-year leasehold site fronting Chancery Lane and is just one street away from the prestigious Anglo-Chinese School (Primary) on Barker Road.
Once completed in 2024, the house is expected to have five en suite bedrooms and a built-up area of 6,500 sq ft. Additionally, it comes with a private lift, V-Zug kitchen appliances, top-end finishes, and a 10m lap pool.
The deal was made possible through the collaborative efforts of Bruce Lye, SRI's managing partner, and Lynn Tiang, Property Giant's co-founder. According to Lynn, the record sale was "a testament to the strength of the real estate market in Singapore".
"This transaction is a significant achievement for Property Giant and sets a new benchmark in the Singapore property market," Lynn continued.
In total, there are only three terraced houses at 1A, 1B, and 1C Chancery Lane. 1C Chancery Lane was sold for $8.45 million ($3,237 psf), and only one terraced house is now available for sale, 1A Chancery Lane. The corner terrace sits on a 999-year leasehold land area of 3,490 sq ft, with a 7,000 sq ft built-up area and six en suite bedrooms. The price tag for this house is $11.8 million ($3,381 psf).
Despite the challenges brought on by the pandemic, the Singapore property market has been resilient, and Property Giant's achievement is an indication that it will only continue to strive in the future.
If you are interested in selling your landed property, contact Property Giant today! With our team of experts and professionals, we help you achieve the best possible outcome for your property.