[Gstalk]

Singapore premier’s estranged brother selling resort-style home
Wed, 6 October 2021, 11:38 am


(Bloomberg) — The estranged younger brother of Singapore’s premier is selling his resort-style home amid a surge in demand for luxury properties in the city-state.

The two-story bungalow, a local term for the equivalent of a mansion, is on sale for S$16.8 million, according to a listing on the real estate portal PropertyGuru. Public records show Lee Hsien Yang, brother of Prime Minister Lee Hsien Loong, and his wife as joint owners. The couple currently live in an apartment in the prestigious Nassim Road neighbourhood.

Sitting on a land size of 9,888 square feet (920 square meters), the home has six bedrooms, two living rooms, a walk-in wine cellar, a helper’s room, an infinity pool and a koi pond. Four cars can be parked inside the freehold compound. The listing described it as a “resort-style modern bungalow.” It’s located on Caldecott Hill, an upscale area near the famous Orchard Road shopping belt. Lee Hsien Yang declined to comment when asked why he’s selling the home.


https://sg.finance.yahoo.com/news/singap...42793.html

[klat]

Because of the introduction of new bills into law and supposely to target certain people, they decided to sell and run road.

[Bigbluedot]

an indication that property market has peaked so insider sells first?

[Stoki]

SINGAPORE - Mr Lee Hsien Yang and his wife, Mrs Lee Suet Fern, have sold a two-storey bungalow in the Caldecott Hill good class bungalow (GCB) area for $13 million, and put another nearby bungalow on the market for $16.8 million.

The adjoining freehold properties are located in Caldecott Close, near the old premises of Mediacorp.

A search on the Singapore Land Authority website shows that Mr Lee, the younger brother of Prime Minister Lee Hsien Loong, and Mrs Lee are joint owners of both properties.

An option to buy one of the bungalows, which sits on a 921.6 sq m or 9,920 sq ft site, has been granted to a Singaporean businessman for $13 million, or under $1,400 per sq ft (psf), sources told The Straits Times.

The $16.8 million asking price for the other bungalow translates to around $1,700 psf, based on its land area of 918.5 sq m or 9,888 sq ft.

[Blin]

At $17m selling for a loss?.