A rare real estate opportunity has surfaced in the heart of District 14, as a freehold intermediate terraced house at Lorong 22 Geylang was recently put on the auction block. Listed as a mortgagee sale with a guide price of $3.7 million, the property has garnered significant attention from both seasoned investors and end-users. The single-storey house sits on a land area of approximately 1,657 sq ft, translating to a land rate of about $2,233 psf. Because it is a bank-initiated foreclosure, the auction provides a transparent platform for buyers to secure a landed asset in a city-fringe location that is becoming increasingly scarce.
What sets this particular listing apart is its unique zoning under the URA Master Plan. Unlike typical residential landed homes, this plot is zoned for “Commercial/Institution” use with a generous plot ratio of 2.8. This classification opens a world of possibilities for the future owner, ranging from traditional office spaces and boutique shops to specialized community facilities or even F&B outlets, subject to relevant approvals. For an investor, the ability to redevelop the existing single-storey structure into a more intensive commercial building offers a compelling “value-add” play that residential-only properties simply cannot match.
The property’s location is another major selling point, situated within a vibrant cluster between Geylang Road and Guillemard Road. This area is a eclectic mix of heritage shophouses, boutique residential developments, and institutional buildings, creating a high-traffic environment that supports commercial viability. Furthermore, the house is within comfortable walking distance of Aljunied MRT Station on the East-West Line. This level of connectivity—being just a few stops away from the Central Business District and the Paya Lebar Regional Centre—ensures a steady stream of interest from potential tenants or future business operators.
Looking back at the property’s history, the current guide price reflects the massive appreciation seen in Singapore’s landed market over the last decade. URA caveats indicate that the property was last transacted in July 2009 for just $560,000 ($338 psf). While the jump to $3.7 million is steep, it aligns with recent market trends in the Geylang commercial/institutional zone. For comparison, similar terraced houses on nearby Lorong 14 Geylang have recently changed hands for around $3.6 million, suggesting that the current guide price is pegged accurately to the prevailing market sentiment for the area.
Beyond its investment merits, the property benefits from the rich lifestyle amenities that Geylang is famous for. Future occupants will be surrounded by an endless array of 24-hour eateries, the Old Airport Road Food Centre, and modern shopping hubs like PLQ Mall and Kallang Wave Mall.This blend of “old-world” charm and modern convenience makes the site attractive for businesses that want a distinct identity outside of a standard glass-and-steel office tower. For a buyer looking to establish a flagship office or a unique institutional headquarters, the location provides both character and convenience.
As the auction date approaches, all eyes are on how the market will respond to this distressed sale. Mortgagee sales often serve as a bellwether for investor confidence, especially for niche assets like commercial-zoned landed properties. With interest rates showing signs of stabilization and the demand for freehold land in Singapore remaining resilient, this Lorong 22 gem represents more than just a house; it is a strategic entry point into one of the city’s most dynamic and evolving districts. Whether it is restored to its former glory or completely redeveloped, the potential for long-term capital growth is undeniable.
