Split-level, four-bedroom unit at iconic Pandan Valley condo up for mortgagee sale at $3.6 mil
A few of the blocks within the Pandan Valley freehold development feature a valley-style cascading stepped terrace design (Photo: Andrew Ho/Google Maps)
A four-bedroom unit at Pandan Valley — one of Singapore’s earliest and most unique condominiums, and situated in District 21 — will go on the block at SRI’s upcoming auction on June 24. The 2,562 sq ft property will be offered via a mortgagee sale with a guide price of $3.6 million, or $1,405 psf.
The second-floor unit has a split-level layout and offers bright and spacious living spaces, says Mok Sze Sze, managing partner of SRI Auction.
In split-level homes, which are more common in older developments, the indoor spaces are often vertically staggered with half-flights of stairs.
For this specific unit at Pandan Valley, the lower level comprises living and dining areas, alongside two bedrooms with en suite bathrooms. The upper level houses another two bedrooms, a kitchen and a yard area.
The upper level includes bedrooms, a kitchen and a yard area (Photo: SRI Auction)
Mok adds that the unit is expected to attract interest from homeowners seeking larger living spaces, as well as investors.
The unit’s lower level. The property may appeal to investors or those seeking larger living spaces, says Mok (Photo: SRI Auction)
Completed in 1978, the 605-unit Pandan Valley is a freehold development designed by pioneering architect Tan Cheng Siong. Meant to provide affordable private housing for middle-income families, it was the largest condo in Singapore at the time.
It comprises seven blocks with 13 unit designs and types, including split levels within the units, as well as an array of amenities such as pools, squash and tennis courts, and shops.
Located off Ulu Pandan Road, the condo is about six to 11 minutes by car to Jelita Mall, Clementi Mall, the Holland Village lifestyle and F&B enclave, and The Star Vista.
It is also within 1km of Henry Park Primary School, while schools such as Fairfield Methodist Primary School, Pei Tong Primary School, Nan Hua Primary School and Anglo-Chinese Junior College are 2km away.
Caveats lodged show that nine units have changed hands at Pandan Valley so far this year, at an average resale price of around $1,325 psf. The most recent transaction involved a 2,024 sq ft three-bedder on the eighth floor; it fetched $3.1 million ($1,532 psf) on May 18.
On April 10, a 6,114 sq ft, five-bedroom unit on the 16th floor changed hands for $5.2 million. This is the most profitable resale deal to date at the development, with the seller reaping a $4.1 million gain, about two decades after they had purchased the unit for $1.1 million.
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