A 19,590 sq ft Good Class Bungalow (GCB) located at Swiss Club Road changed hands for $20.25 million, or $1,034 psf in March this year. This translates to a profit of $9.75 million or an annualised return of 4.4%. The seller who bought the property for $10.50 million, or $536 psf in November 2000.
This was the fifth transaction involving GCB this year, all of which, were concluded at prices below $30 million. Average transacted price of GCB has eased 2.3% y-o-y from $1,469 psf in 2014 to $1,435 psf in 2015. There were a total of 17 transactions involving GCB in 2015, compared to 15 in 2014.
GCBs are landed detached houses that have a plot size of at least 1,400 sqm or about 15,069 sq ft, and are located within the designated Good Class Bungalow Areas. Owing to their rarity and exclusivity, they are often seen as the most luxurious and desirable type of residence in Singapore.
2016 year-to-date GCB transactions
Interested in landed properties near Swiss Club Road? Click here