Mortgagee sale of corner terraced house at Villa Verde for $2.35 mil

SINGAPORE (EDGEPROP) - A 3½-storey corner terraced house at Verde View, located in the Choa Chu Kang area, will be put up for auction on June 22. The property is a mortgagee sale, says Edmund Tie’s head of auction and sales Joy Tan, who is handling the auction.

The property, part of the Villa Verde landed development, has a guide price of $2.35 million, which translates to $892 psf based on a land area of 2,634 sq ft. Its built-up area is 3,800 sq ft.

Recent sales transactions at Verde View. Source: EdgeProp Research, URA

The house has a total of three floors, in addition to an attic. The exterior facade has undergone significant renovations and the timber flooring of the interiors has been redone.

The first floor consists of a living and dining area, which opens into the kitchen with a skylight window. There is also a common bathroom, a store room or helper’s room, as well as a bedroom with an en suite bathroom.

The master bedroom with an en suite bathroom is located on the second floor, and has access to a balcony. There is also another en suite bedroom on this floor. The third floor consists of a family area, another en suite bedroom, as well as two more bedrooms and a common bathroom.

Meanwhile, the attic level has one room that can be used as an entertainment room or a bedroom, says Edmund Tie’s Tan. There is also a common bathroom and a small terrace.

The porch has sufficient space for four cars.

The property is being sold with vacant possession and on an “as is where is” basis. Tan says that there has been a healthy level of interest given the generous land area and built-up area of the corner unit. Many of the interested parties, including multi-generation families, are considering the property for their own occupation, she adds.

Villa Verde is a 99-year leasehold landed development located off Choa Chu Kang Drive in District 23. The lease tenure started in 1997, and has a balance of 74 years. Developed by Keppel Land and designed by ADDP, it was completed in 2000. There are a total of 515 terraced units within Villa Verde, with land sizes ranging from 1,614 sq ft to 3,468 sq ft.

A total of three terraced houses at Villa Verde have been sold so far this year. The latest transaction took place on May 5, when a house with a land area of 1,958 sq ft was sold for $2.18 million ($1,113 psf). As it was purchased for $1.81 million ($924 psf) in August 2013, the owner netted a profit of about $370,000. On March 7, a property with a land area of 2,298 sq ft was sold for $2.09 million ($909 psf), while another terraced house with a land area of 2,153 sq ft changed hands for $2.1 million ($975 psf) on Jan 21.

Villa Verde is located close to amenities and public transport. For those who are driving, the Orchard Road shopping district is 35 minutes away via the Bukit Timah Expressway and Pan Island Expressway. Other nearby amenities include Choa Chu Kang Stadium, Choa Chu Kang Park and malls like Yew Tee Point, Lot One Shopping Mall and Bukit Panjang Plaza. The property up for auction will appeal to families with school-going children because it is near De La Salle School, Kranji Primary School, Yew Tee Primary School and Jurong Pioneer Junior College.