Nestled in the sought-after Jalan Lokam area, this freehold bungalow presents an enticing opportunity for both homebuyers and investors. With a substantial land area of 7,491 square feet and a generous living space of 5,336 square feet, the property offers remarkable flexibility. Potential buyers can opt to move in immediately, pursue the addition of a third storey, or consider redeveloping the space, making it a versatile asset that caters to various needs.
Zoning regulations play a pivotal role in the attractiveness of this property. The current regulations permit the addition of a third storey or the redevelopment into two semi-detached homes. This potential for expansion and redevelopment significantly enhances the investment value of the bungalow. Given the strategic location and zoning allowances, the property can serve as a long-term investment, appealing to those interested in legacy planning and maximizing their returns.
The asking price for this bungalow is set at $11.18 million, translating to an appealing $1,492 per square foot. In comparison to similar properties in the area, this pricing positions the bungalow as a competitive option within the market. The combination of size, location, and potential for development contributes to its overall value, making it a wise choice for discerning buyers who recognize the benefits of investing in a freehold property in a prime area like Jalan Lokam.
Moreover, the property is situated in a mixed landed zone, where the availability of detached houses is limited. This scarcity enhances the desirability of the bungalow, as it stands out among the competition. As urban development continues to evolve, the importance of owning a freehold property in such a prime location cannot be overstated. For buyers considering long-term investment strategies, this bungalow offers a unique chance to secure a valuable piece of real estate that may appreciate significantly over time.
Additionally, the absence of Additional Buyer’s Stamp Duty (ABSD) for redevelopment projects further augments the attractiveness of this property. Investors looking to diversify their portfolios will find this feature particularly beneficial, as it reduces the initial cost burden typically associated with property acquisition. The potential for redevelopment without the additional tax implications makes this bungalow an even more enticing option.
NEW CONDO LAUNCH: DOVER RESIDENCE
Dover Residence is a modern condominium development offering a range of unit types from one to four-bedroom apartments, ideal for diverse buyer needs.
Located in the Dover area, the project boasts convenient access to public transport and is near reputable educational institutions, making it perfect for families.
Residents will enjoy green spaces and recreational facilities, promoting sustainability and community living.
For more details, including the Dover Residence floor plan and pricing, visit the website or check the e-brochure.
View Dover Residence Condo ShowFlat & Get VVIP Discount. Register or contact 6100 8822 to book showflat appointment.
News Source: Edgeprop
Images are not actual photos. For illustration purpose only.
