For those who aspire to own a landed home, this corner terraced house at Woodgrove View could be the answer. It has three storeys and four bedrooms, with a built-up area of 3,111 sq ft. Sitting on a land area of 2,169 sq ft, the house was listed on TheEdgeProperty.com for $1.95 million, which translates to $899 psf.
The property is attractive, given its size and location in Woodlands, just 300m from the Singapore American School. In fact, the unit is currently leased to an American family at a monthly rental rate of $7,000 until September 2017. The family has been living there for several years, according to Jenny Yeo, a property agent with PropNex Realty, who is marketing the property.
Based on the asking price of $1.95 million and current monthly rental rate of $7,000, the gross rental yield works out to 4.3% per annum, which is attractive compared with rental yields of typical landed homes. This is owing to the house’s proximity to the Singapore American School, hence its popularity with expatriate families, points out Yeo.
The exterior of the corner terraced house at Century Woods within the Woodgrove Estate in Woodlands
The house is part of the Century Woods enclave, located within Woodgrove Estate, a landed housing area developed by Far East Organization in 1996. Many of these houses have been sold to individual owners over the years.
The owner of the house at Woodgrove View that is currently on the market purchased it in 1999. However, the house has been tenanted over the years as the owners are currently living abroad. They are now seeking to sell the property as they are unlikely to return to Singapore in the near future, says Yeo. “It’s a value buy because you’re getting a corner terrace house for under $2 million,” she adds.
The house is also within a short distance of Fuchun primary and secondary schools, which is sought-after among Singaporean families, says Yeo. As the property is well maintained and sizeable, it will appeal to owner occupiers as well.
Besides the Causeway Point shopping centre and Marsiling MRT Station, many other amenities — from dining to leisure and entertainment options across the Singapore- Johor Causeway — are also just a 10-minute drive away.
The latest transaction of a house at Woodgrove View was in June 2014 when an intermediate terraced house sitting on a land area of 1,615 sq ft was sold for $1.73 million, or $1,071 psf based on the land area.
This article appeared in The Edge Property Pullout, Issue 761 (Jan 6, 2017) of The Edge Singapore.