Although the bungalow market opened the year on a quiet note, activity is now starting to look more favourable, according to a report by The Business Times. In the GCBA (Good Class Bungalow Area) segment, a two-storey bungalow located at Bishopsgate was sold for S$27 million, which works out to around S$1,674 psf, based on the 16,124 sq ft freehold land area. The six-bedroom property was acquired four...
Landed Property
After several weeks of stagnation, the bungalow market is starting to move again, as the stock market becomes more solid and the Eurozone crisis has shown improvement of late. “The market is surprisingly getting back its momentum and buyers are making offers for units which are reasonably priced,” said William Wong, Managing Director at RealStar Premier Group, which specialises in bungalows around...
Two good-class bungalows (GCBs), one in Tanglin Hill and the other in Victoria Park Road, have been sold for a total of S$105 million. According to The Strait Times, both properties were acquired by Singaporeans. The two-storey Tanglin Hill bungalow was sold for S$57 million (approximately S$1,648 psf). It was completed in 1990 and is located on a 34,579 sq ft site with a built-up area of 8,000 sq...
Prices of landed homes in Telok Kurau, Kovan and Joo Chiat could fall by 10 to 20 per cent following the introduction of new rules by the Urban Redevelopment Authority (URA) to limit the number of apartments that can be built in low-density housing areas, property analysts said. The rules, which kicked in on Thursday, are more likely to affect smaller developers, the analysts said. The plot size for all...
Landed home prices in Singapore grew at a faster pace than those of non-landed homes in the third quarter of this year, according to DTZ Research. Average resale prices of leasehold landed homes in non-prime districts grew 3.8 percent quarter-on-quarter in Q3, while average resale prices of freehold landed homes in the prime districts of 9, 10 and 11 increased by 2.8 percent quarter-on-quarter. In the...
Good Class Bungalow (GCB) deals have continued to dry up this month following the slowdown seen in the first half of 2011. Just one caveat for a bungalow in a GCB area has been lodged for July so far, for a property at Andrew Road that sold for $8.88 million, or about $780 per square foot on land area. There may be a few more caveats for deals sealed in July to trickle in over the next few weeks, say...
The government has announced that landed property in Singapore will be exclusive to Singaporeans. “The government takes a strict approach towards ownership of landed property in Singapore by PRs (permanent residents),” said Law Minister K Shanmugam, in a Business Times report. PRs today, according to the minister, own only 3.5 percent of landed homes in Singapore. This includes Sentosa Cove...
Property agents have been reporting a drop in Good Class Bungalow (GCB) sales, as the gap between asking and offer prices widens. About S$750 million worth of sales have already been closed so far this year, for the residential market’s ultra-elite segment in Singapore. In 2010, a record S$2.3 billion worth of GCB deals were witnessed. Among the latest transactions in Singapore’s GCB areas is the...
Eleven@Holland is a beautiful collection of 82 strata semi-detached houses nestled along the tranquil Holland Link in prime District 10. Eleven@Holland is in a truly prime location. Situated in the area are the upcoming King Albert Park MRT station, and top schools such as Methodist Girls’ School, Henry Park Primary School, Hwa Chong Institution, Raffles Girls’ Primary School, Nanyang Girls’ High...
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...