14A Caldecott Close, the address on the sale listing (Photo: Google Maps)
Cover 14A Caldecott Close, the address on the sale listing (Photo: Google Maps)

Located in the Good Class Bungalow zone (GCBA), a bungalow that was the former abode of Prime Minister Lee Hsien Loong’s brother, Lee Hsien Yang, is now on the market

Lee Hsien Yang has just put up a property listing on the market for a two-storey bungalow located in Caldecott Close. Described as a “modern bungalow in a resort setting”, the residence is currently on sale for $16.8 million. Public records name Lee, who is Prime Minister Lee Hsien Loong’s brother, and his wife Lee Suet Fern as joint owners for the property. 

According to a listing on the real estate portal PropertyGuru, the abode currently sits on a plot size of 9,888 sqft; this works out to be an approximate total of $1,699 per square foot (psf). The home has six bedrooms, two living rooms, a massive dining room that can fit 20, a basement lounge and walk-in wine cellar, as well as a helper’s room with its own en-suite.

An infinity pool and a koi pond are also part of the freehold compound, in addition to parking space that can fit four cars. The property would be sold partially furnished. 

According to Bloomberg, Lee has declined to comment on the reason for selling the home. Lee and his wife are believed to currently reside in an apartment located in the Nassim Road neighbourhood.

A separate bungalow that the couple jointly owns in the same vicinity has also been recently sold for $13 million to a Singaporean businessman, The Straits Times reported. The freehold property sits on a slightly smaller plot of 9,920 sqft, which amounts to slightly under $1,400 psf. 

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Ian Ang, the chief executive officer of homegrown gaming chair giant Secretlab, purchased two luxury properties for $51 million in one week (Photo: Darren Gabriel Leow)
Above Ian Ang, the chief executive officer of homegrown gaming chair giant Secretlab, purchased two luxury properties for $51 million in one week (Photo: Darren Gabriel Leow)

His listing is not the only high-profile transaction this year. In August, TikTok CEO Chew Shou Zi made headlines for his purchase of a $86 million GCB, while mid-July saw Chloe Tong, the wife of Grab chief executive Anthony Tan, purchasing a $40 million GCB located at Bin Tong Park. Prior to that, Ian Ang, the chief executive officer of homegrown gaming chair giant Secretlab, purchased two luxury properties for $51 million in the span of one week.

This sale comes at a time where the luxury property market in Singapore is heating up. According to a report by luxury realtor Sotheby’s International Realty, there have been more than 50 GCB purchases within the first half of 2021, surpassing the mere 46 deals that took place in 2020. The fast-paced purchases total to an amount nearing $1.4 billion. 

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