East Coast residential site hits the market for $14m

The latest price was cut from the guide price of $15.25m.

A freehold residential redevelopment site at 29A Jalan Hajijah on the East Coast has been put up for sale for S$13.5m.

Savills, the exclusive marketing agent, is conducting an Expression of Interest (EOI) for the Jalan Hajijah plot, offering a guide price 13% lower than its $15.25m asking price during an earlier sale attempt in September 2022.

Spanning 11,746 square feet in land area, the site is zoned residential with a plot ratio of 1.4, and  can be redeveloped into either a bungalow or a boutique apartment with up to 15 units. The guide price translates to $1,149 per square foot of land area and will be sold on vacant possession.

It is accessible via the East Coast Park (ECP) Expressway and other major arterial roads. The EOI will close on 16 August.

“The underlying demand for landed homes remains positive in District 16, as many high-net-worth individuals and families are on the prowl for well-located landed properties given the positive long-term outlook for this asset class,” said Sophia Lim, Director of Investment Sales & Capital Markets at Savills Singapore.