The prestigious housing enclave of Gilstead Road, Gentle Road, and Buckley Road, located off Newton Road in prime District 11, is undergoing a renewal. According to Senior Executive Group Division Director at ERA Realty Network, Brenda Zee, this housing estate used to be predominantly bungalow area and home to many of the elite in Singapore. However, over the years, many bungalows were sold to buyers who saw the potential to redevelop them into semi-detached houses, strata-titled landed housing projects, or low-rise condominiums. Examples of this renewal include Buckley Classique, Gilstead Two, and Villas @ Gilstead.
A significant deal in the area was the sale of two adjacent freehold bungalows at 32 and 34 Gilstead Road with a site area of 43,458 sq ft for $70 million ($1,611 psf). This was recorded in a caveat lodged in December 2021. The buyer, Kheng Leong Co, is redeveloping the site into a new luxury 14-unit condo named 32 Gilstead. The newly launched project features units that average 4,200 sq ft, with four en suite bedrooms. Five units have been sold since the launch, with prices ranging from $14.4 million to $14.7 million or $3,431 psf to $3,505 psf. This development has set a new benchmark for luxury and prices in the neighbourhood.
According to Marketing Director of ERA Realty Network, Bibi Wong, who grew up in the area, the entire neighbourhood is being gentrified, with a new generation of affluent and cosmopolitan residents moving into these high-end homes. The area offers a quiet and lush living environment, within 1km of top schools like Anglo-Chinese School (Primary), St Joseph’s Institution, and Catholic Junior College. It is also within 1-2km of Anglo-Chinese School (Junior), Singapore Chinese Girls’ School, and CHIJ Primary (Toa Payoh). For those with young children, St James Church Kindergarten (Gilstead) and EtonHouse Pre-School Newton are just a short drive away. International schools such as EtonHouse International School Orchard and Chatsworth International School are also within close proximity.
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When it comes to investing in a Singapore condo, securing financing is a crucial factor to consider. Thankfully, Singapore offers a diverse range of mortgage options to choose from. However, it is important to be familiar with the Total Debt Servicing Ratio (TDSR) framework. This framework imposes a limit on the amount of loan that a borrower can take based on their income and current debt obligations. It is advisable for investors to fully understand the TDSR and seek guidance from financial advisors or mortgage brokers to make informed decisions about their financing options. Doing so can help them avoid over-leveraging and ensure a successful investment in a Singapore condo.
Among the few bungalows that have remained unchanged since the 1970s is the property at 45 Gilstead Road. The double-storey house sits on a freehold plot of 7,301 sq ft, with a built-up area of approximately 3,491 sq ft. It features five bedrooms and five bathrooms. According to Zee, the age of the house makes it perfect for those looking to redevelop it into a larger bungalow or a pair of semi-detached houses, subject to approval from the authorities. It also presents an excellent opportunity for families who desire a bungalow in a prime residential estate with amenities nearby. With the ongoing gentrification, the neighbourhood is expected to see an increase in property prices in the future. Wong, who is jointly marketing the property with Zee, reveals that the family has been approached by developers over the years, but they were not ready to sell until now. The bungalow at 45 Gilstead Road is now available for sale at $16.99 million ($2,327 psf).
Gilstead Road is conveniently close to three MRT stations, namely Newton MRT (interchange for the North-South and Downtown Lines), Stevens MRT (interchange for the Downtown Line and Thomson-East Coast Line), and Novena MRT (on the North-South Line). By car, Orchard Road is only a seven-minute drive away, while the CBD is just a 12-minute drive via the Central Expressway and Pan Island Expressway. The neighbourhood also enjoys proximity to the Novena medical hub, with Mount Elizabeth Novena Hospital, Royal Healthcare Medical Centre, and KK Women’s and Children’s Hospital nearby. At the heart of the medical hub is the integrated healthcare hub, Health City Novena, which comprises Tan Tock Seng Hospital, Dover Park Hospice, Ren Ci Hospital, the National Skin Centre, the National Neuroscience Institute, and the Lee Kong Chian School of Medicine. For shopping and dining, residents can visit malls such as United Square, Velocity @ Novena Square, and Square 2, which are conveniently linked underground to the Novena MRT Station. There are also various eateries at Goldhill Plaza and Royal Square.
If you are looking to combine the charm and elegance of a bygone era with the contemporary comforts of the present, this one-of-a-kind bungalow at Gilstead Road presents an exclusive opportunity to do so. Don’t miss this chance to create your dream home in this exceptional estate. For more details and viewing, please contact Brenda Zee, Senior Executive Group Division Director at ERA Realty Network, at 94509938, or Bibi Wong, Marketing Director at ERA Realty Network, at 96686574.