Landed Property

Bankrupt trader’s bungalow finds buyer

THE freehold bungalow at 85 Branksome Road, vacated by the bankrupted managing director of spice and nut trader Pars Ram Brothers and his family, has found a buyer. According to caveats obtained by The Business Times, the property was sold to a special purpose vehicle (SPV) named Branksome Realty 1 Pte Ltd for S$15.08 million. This was below the opening price of S$16 million at its first auction, where...

Good Class Bungalow prices set to soften further

THE volume and value of transactions in Good Class Bungalow (GCB) Areas have risen so far this year, though prices continued to soften. Market views are mixed on whether transaction volumes will rise again or fall next year although there is a consensus that prices will keep on dipping at least in the first half. Agents cited a weakening economy and the rising interest rate scenario among other...

White House Park GCB sells for S$25.5m or S$1,686 psf based on 15,125 sq ft land area

TWO freehold Good Class Bungalow (GCB) transactions in District 10 are in motion - one on White House Park near the Botanic Gardens and the other tucked away on Ewart Park off Holland Road. The bungalow on White House Park is being sold at S$25.5 million, which translates to S$1,686 per square foot based on the land area of 15,125 square feet. The bungalow has five bedrooms, a pool and enough parking...

Kuik family member buys GCB for S$16m in Oct when 60 landed units sold

A MEMBER of the Kuik family that founded the Sim Lian Group snagged a Good Class Bungalow (GCB) last month in Chestnut Drive for S$16 million while Nasrat Muzayyin, a director and shareholder of several oil trading companies here, picked up a bungalow in District 11 for S$22.24 million. These were among some 60 caveated landed residential transactions worth S$336.76 million last month. This followed...

Price rebound for landed homes may exceed other residential types

LIKE their non-landed counterparts, since the third quarter of 2013, or the immediate term after the implementation of the Total Debt Servicing Ratio (TDSR) regime, the landed property market has seen declining prices and transaction volumes. We will analyse this market by looking at some statistics for the period from the first quarter of 2013 to August 2016. From this analysis, we come to realise that...

GCB in Lady Hill Road sold at S$24m or S$1,423 psf

The Good Class Bungalow (GCB) market continues to buzz with activity. The latest transactions include an old freehold house along Lady Hill Road in a prime GCB location which changed hands for S$24 million. The price works out to S$1,423 psf based on the land area of 16,863 sq ft. This seems a relatively low psf price for a prime GCB location but that may have to do with the property's age - it is said...

JLL launches Leedon Park GCB for sale by tender

A sprawling GCB, situated on one of the highest points of the Leedon Park GCB Area, has just been lauched for sale by tender by sole marketing agent JLL. ‚Äč Built in the early 1990s, 17 Leedon Park comprises a 2-storey bungalow with a built-up area of approximately 9,000 sq.ft equipped with a 21 m long in-ground swimming pool and a lavish garden. Said Mr Karamjit Singh, International Director and...

ValueMax CEO buys Katong freehold bungalow for $30 million

The chief executive of listed pawnshop ValueMax Group, Yeah Hiang Nam, has lodged a caveat to buy a freehold bungalow along Wilkinson Road in Katong for S$30 million. It sits on a land area of 2,453 square metres. The transaction price translates to about S$1,136 per square foot (psf) of land. The sellers were Ong Tiong Seng and Ong Teck Beng, according to caveat documents obtained by The Business...

Sentosa Cove bungalow market thaws

THERE has been an improvement in bungalow deals in Sentosa Cove lately, after a slow start this year. A bulk sale for the remaining 10 bungalows on Pearl Island, one of the five man-made islands in the waterfront housing district, has been entered into. The transaction, via a sale of shares in the company that developed the 19-villa project, values the balance 10 bungalows at S$120-130 million, which...

Queen Astrid Park GCB fetches S$44.5m

A CHARMING single-storey bungalow on a sprawling site in Queen Astrid Park has changed hands for S$44.5 million. The buyer is understood to be a family member of Goh Hup Jin, son of billionaire paint tycoon Goh Cheng Liang. The transaction was an estate sale. The price works out to S$1,271 per square foot based on the freehold land area of 35,011 square feet. Located at the corner of Queen Astrid Park...

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