Since last December, 10 Good Class Bungalows (GCBs) have changed hands at costs above $30 million, in view of admonitions held up as of Feb 6. Of these, four were executed above $40 million — the most noteworthy being $48 million ($2,893 PSF) for a GCB at Swettenham Close – bought by Ben Chng, previous proprietor of Singapore-based moment refreshment and ceral creator, Viz Branz (see Table 2). He had sold a larger part stake in VizBranz to Bahrain-based elective venture firm InvestCorp last November. The arrangement was facilitated by extravagance home-trained professional, KH Tan of Newsman Realty.
The most recent exchange was for a GCB at Leedon Park sitting on a freehold land space of 21,584 sq ft: It changed hands for $37.3 million ($1,727 psf). The purchaser is accepted to be a Chinese public turned Singapore resident.
Wellsprings of interest for GCBs are very fluctuated, says William Wong, overseeing head of RealStar Premier Group. “They incorporate those updating from the more modest homes, and recently printed Singapore residents from China, however Hong Kong, Taiwan and somewhere else.” RealStar is said to have caught 40% portion of the overall industry of GCB exchanges a year ago, in view of provisos held up as at Jan 7, 2021.