The prime minister’s brother is selling off his bungalow for S$16.8 million (US$12 million) after raking in S$13 million for another one nearby.
Lee Hsien Yang, who is the younger brother of Prime Minister Lee Hsien Loong, has listed a two-story “resort-style modern bungalow” on Caldecott Hill on the market but declined to tell reporters why.
He sold another nearby luxury property to a businessman, according to a report, joining other wealthy individuals feeding a frenzy for Singapore’s bungalows, which are the local equivalent of a mansion.
The nearly 10,000 sq ft property currently on the market has six bedrooms, five bathrooms, a basement, and a pool, according to photos shared online. Public records showed that the house was owned by the 64-year-old Lee and his wife Lee Suet Fern.
Other amenities of the house included two living rooms, a dining room that can accommodate 20 people, a wine cellar, and a koi pond, said the PropertyGuru website, where the house has been listed since a week ago. It also boasts “total privacy.”
The brothers and their sister Lee Wei Ling grew up in a house on Oxley Road that later became the object of a family feud.
Property analysts recently noted a growing class of ultra-rich individuals purchasing landed properties. One of them was Ian Ang, maker of Secretlab gaming chairs, who purchased a property at 27 Olive Road in the Caldecott Hill area.
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