SINGAPORE — The Caldecott Hill bungalow belonging to Prime Minister Lee's brother, Hsien Yang, and his wife Lee Suet Fern is being bought by Luxasia Group's managing director Alwyn Chong.
A search on the Singapore Land Authority site by Yahoo Finance Singapore showed that Chong is in the midst of buying the two-storey property, situated on a lot area of 9,920 sq ft, for $13.25 million. This works out to around $1,336 per sq ft.
The document stated that Chong, the scion of the beauty products distributor, lodged a caveat on the Caldecott Close property on 8 April this year.
The purpose of a caveat is to protect a property buyer – it blocks other purchasers and prevents the property owner from trying to sell the property multiple times to others.
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