good class bungalow
Now, they start at $20 million to over $30 million," observes Tan.Considering the limited supply and hefty price tag, how difficult is it to buy or sell GCBs? They may be newly minted Singaporeans or are still PRs but with children who are citizens. Of these, only about 2,500 are Good Class Bungalows (GCBs) and owners include James Dyson, who shelled out $45 million – the priciest property per square foot – for his15,100 sq ft Cluny Road GCB in July2019 – just weeks after buying his$73.8million super penthouse at The Wallich Residence, currently the island’s tallest building. No 196900476M. "It is possible that they may have been called 'Good Class' in order to differentiate them from smaller bungalow plots . Some own public-listed companies or have just sold them. A super penthouse may offer you a private lift that opens up into your home, but you’ll still run into neighbours in the lift or car park, or while sharing common facilities.Tan is confident that the potential of GCBs will only keep growing in the next five to 10 years. Developed in the shape of two wings by K2LD Architects in 2012, it was tenanted at $30,000 before the hotpot king snapped it up in 2016.The Alibaba founder is rumoured to have paid $40m for a home at Victoria Park Close in 2019.
Most of us live in flats or condos in buildings that appear to be getting taller by the day, as if in a race to the top. A west-facing rectangular bungalow, part of the development at 23 Gallop Park. This humongous 84,543 sq ft property at 33 Nassim Road with a swimming pool and a full-sized tennis court can be rebuilt as five smaller GCBs. It was transferred to SG Casa Pte Ltd, which is reportedly linked to Eduardo Saverin.Enjoy the finer things in life. Motivated sellers usually adjust their pricing to fair market value after three to six months in the market.He has a database of between 500 and 800 potential buyers, with whom he has spent time understanding their preferred location, budget and plans, whether to rebuild, to move into a ready home or to purchase a new one.Land size and shape are also factors.
“You can also easily build a GCB of up to 30,000 or 50,000 sq ft if you have a large enough land space,” Tan points out. From rebuild to brand new. Firstly, says Tan, most GCBs are freehold properties while about half of the super penthouses, which cost upwards of $35m, in Singapore have a 99-year lease. Others like Far East Organisation CEO Philip Ng buy multiple GCBs for their children.He snapped up two bungalows adjacent to each other at Cluny Road for his family at over $65 million. He is responsible for over 170 GCB transactions in the last 17 years. Search for your new home in the high end good class bungalow comes with the luxurious pool, lift, backyard garden and more additional features where you can indulge. . An older, rundown house can be leased for $15,000. Land size and shape are also factors. This excludes "regular" bungalows, such as the trophy homes on Sentosa, which are the only landed properties non-Singaporeans can purchase. Most of us live in flats or condos in buildings that appear to be getting taller by the day, as if in a race to the top. The plot size of such bungalows are at least 1,400 square meters and the maximum site coverage is at 35%.
Some are buying to rebuild so they are not interested in the house itself.”The first group are your born and bred Singaporeans. Most importantly, GCBs provide total privacy. Previously owned by fashion tycoon FJ Benjamin, it had a rep for being a party house with a guest list that included footballer David Beckham.The founder of hotpot chain HaiDiLao, bought his 15,884 sq ft home at Gallop Road for $27 million. Others like Far East Organisation CEO Philip Ng buy multiple GCBs for their children.He snapped up two bungalows adjacent to each other at Cluny Road for his family at over $65 million. “There are many successful Indonesians, Malaysians and Chinese in Singapore, whose children are studying here and will become citizens. Currently being rebuilt, the official buyer is listed as USB Trustees.This 52,054sq ft GCB at 81 Dalvey Road, formerly owned by the late Lim Kim San, one of Singapore's founding fathers, sold for $93.9 million in September 2018 to an unnamed Singaporean descendent of Tsai Wan-Lin, formerly the richest person in Taiwan.Wing Tai Holdings chairman Cheng Wai Keung sold his property for a record $230 million in 2019. A Good Class Bungalow on Leedon Road was sold at $57.5 million ($1,309 psf) in January. Some don’t mind a long driveway; others don’t like triangular-shaped land.Some want elevated land and a few prefer flat while others don’t mind land below road level, which is cheaper. “They already like the location and the land and just need to view the floor plan. Owners can also enjoy a huge garden and plenty of parking space - even more so if you build a basement car park - for their supercars.Interestingly, feng shui masters say it is better to live in a landed property and "touch the ground" for better energy.
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