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JUST SOLD: GCB at Swiss Club Road sold for $9.8 mil profit

By Tan Chee Yuen

/ The Edge Property |

March 24, 2016 10:00 AM SGT

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

Street name	Postal District	Planning Area	Area (sq ft)	Sold on	Sales price ($)	Bought on	Purchase price ($)	Profit ($)	Annualised return (%)
Swiss Club Road	11	Bukit Timah	19,590	3/3/2016	20,250,000	1/11/2000	10,500,000	9,750,000	4.4
Peirce Road	10	Tanglin	16,221	11/2/2016	23,999,000	20/4/2006	9,500,000	14,499,000	9.9
King Albert Park	21	Bukit Timah	16,749	4/1/2016	25,000,000	12/5/2010	14,900,000	10,100,000	9.6
Yarwood Avenue	21	Bukit Timah	16,167	11/1/2016	15,700,000	4/2/2002	6,800,000	8,900,000	6.2
Mount Echo Park	10	Tanglin	16,824	27/1/2016	22,250,000	13/8/2010	18,500,000	3,750,000	3.4

Source: URA, The Edge Property

* Profitability computed based on caveat data matching and excludes all fees and duties, as well as any construction and renovation costs

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