In Singapore, a Good Class Bungalow (GCBs) is uncommon but even less ordinary is the story of Mr. George Lim, who has become a prime developer of these high-class homes. Since 2006, Mr. Lim, 59, has redeveloped and sold seven bungalows, worth a total of S$145 million. Recently, he made the headlines after paying S$61.4 million for a 41,852 sq ft site in Leedon Park. Following his typical strategy, he...
Good Class Bungalows (GCB)
A Good Class Bungalow (GCB) at Cluny Road has fetched a record land price per unit of S$33 million (approximately S$2,038 psf) on a freehold land area of approximately 16,200 sq ft. This amount surpasses the previous record of S$1,899 psf on land area that Chew Hua Seng, Chairman and Founder of Raffles Education, paid for 32H Nassim Road in 2007. The latest transaction was handled by Singapore Home...
2010 has been an impressive year for the landed housing segment, with prices rising 23 per cent in the first three quarters, including a 7.7-per-cent increase in the third quarter from the second. Amid the outstanding overall results, the superlative in the landed housing segment - good-class bungalows (GCBs) - continued to shine. GCBs are essentially detached homes sitting on at least 1,400 sq m of land,...
Good Class Bungalow (GCB) deals in Singapore hit $1.85 billion year-to-date, an increase of 7.3 percent from the $1.72 billion deals recorded last year, according to CB Richard Ellis. Also, at least $100 million worth of GCB deals are expected to be exercised before the year ends. The $1.85 billion worth of GCB deals so far this year includes 101 transactions, slightly lower that the 109 GCBs sold in...
Good-class bungalow (GCB) owners are cashing in on escalating property prices. A CB Richard Ellis (CBRE) analysis of Urban Redevelopment Authority (URA) Realis caveats shows that GCBs are netting bumper profits for owners who have seen average per sq ft (psf) prices rise almost 30 per cent over the past year. Some have taken to buying and selling their GCBs within a period of less than two years. At...
Sales in first half pass $1b mark, and demand unlikely to flag: Report THE priciest homes just keep getting pricier, with the values of upmarket, prime-area bungalows rocketing this year, and sales totalling more than $1 billion in the first six months. And just to underline the boom in what are called 'good class bungalows', a Nassim Road house sold in April for $43.5 million, that is $1,800 psf and...
Its analysis of URA Realis caveats shows that 29 deals are sealed At least $500 million worth of Good Class Bungalows (GCBs) have changed hands in the first three months of this year, according to CB Richard Ellis. The property consultancy's analysis of URA Realis caveats shows that 29 deals were sealed in Q1 for a total of $470.33 million. In addition, CBRE director (luxury homes) Douglas Wong...
Prices have more than doubled over the last decade PRICES of good class bungalows (GCBs) have picked up strongly since early this year, topping prices fetched in the last property peak in 2007. GCBs are owned by a select group of wealthy individuals, who may well own more than one such bungalow. There are an estimated 2,500 GCBs in Singapore today. By definition, GCBs need to have a plot size of at least...
En bloc projects being leased out instead of getting rebuilt MANY new homes recently built for the well-heeled in Singapore are sitting empty. Only 45 per cent of the luxury projects launched since June 2006 have been sold as of November last year, according to property consultancy CBRE. This period saw the roll-out of 20 projects in this segment, which has a total of 2,209 units, some of which have yet...
Location : Cluny Hill Type of development : Good-class Bungalows Tenure : Freehold No of bungalow plots : 16 Sales status : 100% sold Land Area : at least 15,000 sf a plot Location Cluny Hill is part of the Botanic Gardens good-class bungalow enclave. Nestled within the prime district 10 precinct, it enjoys ultimate tranquility and yet is close to the Orchard Road...