A Semi-Detached Leasehold Property on Kew Heights in District 16 is Up For Auction on March 15 for $3.65 MillionA leasehold semi-detached house on Kew Heights in District 16 is set to hit the auction block at SRI’s upcoming auction on March 15. The three-storey property, which has a 99-year lease, has a guide price of $3.65 million.The house sits on a corner plot of 3,034 sq ft and boasts a floor area of 4,436 sq ft over three levels. It includes six bedrooms, a family area, a living hall with a double-volume ceiling, an adjoining dining area, a kitchen, a helper’s room, and a storeroom. The property also features a car porch and a backyard area.The guide price of $3.65 million reflects a land rate of $1,203 psf, making it one of the lowest in the area. According to Mok Sze Sze, managing partner of auctions and sales at SRI, this could be an attractive investment opportunity for buyers to convert some of the open spaces into additional bedrooms, making it ideal for extended or multi-generational families.The property, which is being sold in a mortgagee sale, will be offered with vacant possession. This is the first time it will be available for sale at an auction. The most recent transaction for the property was in November 2021, where it was sold for $3.19 million, reflecting a land rate of $1,051 psf.Last year, two other 99-year leasehold properties in the Kew Vale estate were sold. In February, a three-storey semi-detached house along Kew Heights changed hands for $3.35 million, while a three-storey terraced house along Kew Drive was sold for $3.26 million in January.Pricing for 99-year leasehold properties in the Kew Vale estate has been on an upward trend, with an average land rate of $1,213 psf for seven transactions between 2023 and 2024. This is up from the average land rate of $1,002 psf across seven transactions between 2021 and 2022.The property is situated near major motorways such as the East Coast Parkway (ECP) via Bayshore Road and will be served by the upcoming Bedok South MRT Station along the Thomson-East Coast Line when it opens in 2H2026.Families with school-going children will find several schools in the vicinity, including Temasek Primary and Secondary Schools, Bedok South Secondary, and Bedok View Secondary. With its desirable location and potential for conversion, the leasehold semi-detached property on Kew Heights is likely to attract strong interest from potential buyers at the upcoming auction.