What is considered good class bungalow?
The Good Class Bungalow, commonly called GCB in short, belongs to the highest end of Singapore’s residential property market. To qualify as a GCB, the property must have at least 1,400 square metres (approx. 15,070 sq. ft.)
Who owns good class bungalows in Singapore?
Ian Ang, chief executive of the ergonomic gaming chair retailer Secretlab, bought a S$36 million bungalow in Caldecott Hill alongside a S$15 million luxury penthouse for him to live in while he builds up the GCB.
Why is Nassim Road so expensive?
Nassim Road’s exclusivity stems from its secluded locations, its large lots, and the fact that it’s a short street with a limited number of home sites. “A piece of regular land in Nassim is like fine art or wine,” Lye told me in March, adding that the prices of such properties “keep reaching new highs all the time.”
Where are the GCB in Singapore?
Some of the exclusive locations of Good class bungalows GCB in Singapore are District 10’s Belmont Park, Cluny Park, Holland Park, Ridley Park, White House Park, and Nassim Road. Indeed, Nassim Road is one of Singapore’s most sought-after residential areas.
Can foreigners buy good class bungalow in Singapore?
Can a foreigner buy a good class bungalow? Foreigners will need to get approval from the government to buy a GCB, so most buyers tend to be Singaporeans. But we’ve also seen exceptional cases, such as James Dyson’s Cluny Road purchase back in 2019.
How much are good class bungalows in Singapore?
Who Are Buying Good Class Bungalows in Singapore? ( 2021)
| Name | Address | Price |
|---|---|---|
| Ian Ang, Secretlab CEO | Caldecott Hill | $36 million |
| Jin Xiao Qun, wife of Nanofilm Technologies CEO Shi Xu | Nassim Road | $128,800,800 |
| Zhang Hanzhi, son of Haidilao CEO Zhang Yong | Gallop Road | $27 million |
| Tommy Ong, Stamped.io CEO | Cluny Hill | $63.7 million |
Can foreigners buy good class bungalow?
Is there any restriction on the property that foreigners can buy? Yes. The land area of the property must not exceed 1,393.5 sq metres or 15,000 sq feet. In addition, the property must not be situated within a good class bungalow (GCB) area.
How much is a nice house in Singapore?
Average Cost of Homes in Singapore
| Housing Type | Average Price | Median Price |
|---|---|---|
| HDB Average | S$532,768 | S$495,000 |
| Condo Cost Overall | S$1,780,051 | S$1,467,778 |
| Landed | S$5,063,507 | S$3,850,000 |
What is the most expensive area in Singapore?
“Districts 9 (Orchard, Cairnhill, River Valley) and 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) have historically been and continue to be the most expensive in Singapore,” says design director Terri Tan.
Is bungalow freehold class good?
It is estimated that there are currently about 2,800 GCBs in Singapore only. Most of them are freehold properties, making them attractive for legacy planning.
How much do good bungalows cost?
How Much Does a Good Class Bungalow Cost?
| Property Location | Price | Cost (psf) |
|---|---|---|
| Queen Astrid Park | $44.5 million | $1,271 |
| Dalvey Road | $93.9 million | $1,804 |
| Queen Astrid Park | $86 million | $2,700 |
| Nassim Road | $95 million | $2,773 |
Can Singapore PR buy good class bungalow?
A Singapore Permanent Resident (PR) is considered a foreigner person. Is there any restriction on the property that foreigners can buy? Yes. The land area of the property must not exceed 1,393.5 sq metres or 15,000 sq feet.
Which is the best class of bungalow in Singapore?
Good Class Bungalows are the most admired and sought after landed housing properties in Singapore. The Urban Redevelopment Authority has put in planning constrains for these class of properties to preserve them. The very term “Good Class Bungalow” is one that is used by URA to technically classify them.
Where are good class bungalows in District 21?
The Good class bungalow area boundary also extends into Chee Hoon Avenue, Eng Neo Avenue and Swiss Club Road in district 11. Within district 21, areas designated as good class bungalows include the prestigious Binjai Park and Yarwood Avenue localities and Chestnut Avenue in district 23.
Which is the best en bloc in Singapore?
According to Knight Frank Singapore, this en bloc site is among the most prominent Good Class Bungalows and part of the 39 GCB areas that have been gazetted. Queen Astrid Park condo site has been built on elevated grounds which is also the highest point in the vicinity.
Which is the best GCB area in Singapore?
Of the GCB areas, the best known are the Nassim, Cluny, Bishopsgate and White House Park estates. While it is not inconceivable that there could be more GCB areas added in the future, given the need to intensify land use in Singapore, the likelihood is very slim.