Good Class Bungalows in Singapore

[et_pb_section admin_label=”section”][et_pb_row admin_label=”row”][et_pb_column type=”4_4″][et_pb_text admin_label=”Text” background_layout=”light” text_orientation=”left” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]

In Singapore, demand for traditional real estate properties has dipped through the years but there is one property type that has bucked the trend – Good Class Bungalows in Singapore. According to a Straits Times article, around 26 Good Class Bungalows (GCB) have been sold for $587.75 million, compared to 29 transactions completed in 2013 netting $682 million. In short, Good Class Bungalows are highly sought-after properties in Singapore. For 2014, the most expensive transaction includes 27 Ridout Road measuring 3,130 square meters, priced at $35 million.

[/et_pb_text][et_pb_text admin_label=”H2 Subtitle DARK” background_layout=”light” text_orientation=”left” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]

Privacy and Exclusivity for GCB buyers

[/et_pb_text][et_pb_text admin_label=”Text DARK” background_layout=”light” text_orientation=”left” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]

Good Class Bungalows for sale belong to a special category, with these properties having the following characteristics:

[/et_pb_text][et_pb_blurb admin_label=”Blurb LEFT Icon Max Width 2048px” url_new_window=”off” use_icon=”on” font_icon=”%%198%%” icon_color=”#7EBEC5″ use_circle=”off” circle_color=”#7EBEC5″ use_circle_border=”off” circle_border_color=”#7EBEC5″ icon_placement=”left” animation=”off” background_layout=”light” text_orientation=”left” use_icon_font_size=”off” use_border_color=”off” border_color=”#ffffff” border_style=”solid” custom_css_blurb_content=”max-width: 2048px;”]

Constructed on a large plot of land, at least 1,400 square meters

[/et_pb_blurb][et_pb_blurb admin_label=”Blurb LEFT Icon Max Width 2048px” url_new_window=”off” use_icon=”on” font_icon=”%%198%%” icon_color=”#7EBEC5″ use_circle=”off” circle_color=”#7EBEC5″ use_circle_border=”off” circle_border_color=”#7EBEC5″ icon_placement=”left” animation=”off” background_layout=”light” text_orientation=”left” use_icon_font_size=”off” use_border_color=”off” border_color=”#ffffff” border_style=”solid” custom_css_blurb_content=”max-width: 2048px;”]

Should not exceed two stories

[/et_pb_blurb][et_pb_blurb admin_label=”Blurb LEFT Icon Max Width 2048px” url_new_window=”off” use_icon=”on” font_icon=”%%198%%” icon_color=”#7EBEC5″ use_circle=”off” circle_color=”#7EBEC5″ use_circle_border=”off” circle_border_color=”#7EBEC5″ icon_placement=”left” animation=”off” background_layout=”light” text_orientation=”left” use_icon_font_size=”off” use_border_color=”off” border_color=”#ffffff” border_style=”solid” custom_css_blurb_content=”max-width: 2048px;”]

The building itself should cover no more than 35 percent of the plot

[/et_pb_blurb][et_pb_text admin_label=”Text DARK” background_layout=”light” text_orientation=”left” use_border_color=”off” border_color=”#ffffff” border_style=”solid” saved_tabs=”all”]

In addition, these premium properties are only located in areas designated for GCBs in Singapore, including districts 10, 11, 21 and 23. Specifically, these are often found in areas such as Nassim Road, Cluny Park, Swiss Club Road, Chatsworth Park, Leedon Park, Windsor Park, Dalvey Estate and Oei Tiong Ham Park.

Because of the land size requirements and other related rules, GCBs are considered for exclusivity: buyers and investors who select these types of properties cite exclusivity as a primary reason for selection. Exclusivity comes at a price, and in Singapore, these bungalows are rare and command higher contract prices. Moreover, since these properties are only available to an elite set, investors in GCBs can expect an esteemed and select neighborhood. The exclusivity factor provides homeowners a sense of privacy, less cluttered roads and a greater sense of security.

There is no need to worry about land sizes and configurations being changed since these properties are highly regulated to preserve exclusivity. The Urban Redevelopment Authority (URA) has set rules that will govern the planning and re-development of these properties. For example, the minimum requirement for land is 1,400 sq. meters, thus a plot of land of that size cannot be divided into two or developed into another form of intensive housing. A division may only be possible if the plot measures at least 2,800 sq. m.

In addition, exclusivity comes in the form of environmental protection extended to land that host Good Class Bungalows. Aside from the protection for modern and aesthetically pleasing houses, regulations are in place to protect the old trees within the area. The grand design for GCBs is to create an atmosphere of privilege that is different from the busy and common Singaporean neighborhood where condominiums are for rent.

[/et_pb_text][et_pb_text admin_label=”H2 Subtitle DARK” background_layout=”light” text_orientation=”left” use_border_color=”off” border_color=”#ffffff” border_style=”solid” saved_tabs=”all”]

Proximity to Orchard and Other Strategic Venues

[/et_pb_text][et_pb_text admin_label=”Text DARK” background_layout=”light” text_orientation=”left” use_border_color=”off” border_color=”#ffffff” border_style=”solid” saved_tabs=”all”]

In real estate, location is everything. While Good Class Bungalows are located in different parts of the state, the popular properties for sale and rent are located near the Orchard district. Specifically, these properties are listed in Nassim Road. The area is populated with offices, embassies and high-end condominiums, thus leaving a limited area for bungalow development.

Properties for sale in Nassim Road are rare, and transactions are often highlighted and anticipated in the market. The last major transaction that involves a Nassim property was in 2010 when the property fetched S$43.5 million or a pricey $1800 per square foot (PSF). At the time, this was a record since most of the GCBs sold in Districts 10 and 11 for that fiscal year only fetched $900 to $1200 per square foot.

[/et_pb_text][et_pb_text admin_label=”H2 Subtitle DARK” background_layout=”light” text_orientation=”left” use_border_color=”off” border_color=”#ffffff” border_style=”solid” saved_tabs=”all”]

High-End Amenities, Premium Comfort

[/et_pb_text][et_pb_text admin_label=”Text DARK” background_layout=”light” text_orientation=”left” use_border_color=”off” border_color=”#ffffff” border_style=”solid” saved_tabs=”all”]

While different bungalow properties feature different amenities, the common theme among Good Class Bungalows for sale in Holland Road and other areas is the presence of high-end amenities. With area exceeding 1,400 sq. meters, it is normal to discover properties for sale that are loaded with amenities like swimming pools, large garden, outdoor patio and garage. All these features and the promise of privacy and exclusivity help make GCBs as recommended properties for sale or rent in Singapore, especially for those with deep pockets.

[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]

Leave a Comment

Your email address will not be published. Required fields are marked *

three × five =