SINGAPORE (EDGEPROP) - The Good Class Bungalow (GCB) market had a stellar performance in 2021 with 93 transactions worth a total value of $2.8 billion. Coming off the property cooling measures announced last December, while the outlook for the GCB market may be slightly tempered, demand for GCBs is expected to remain strong in 2022.
See also: Luxury bungalow in Raffles Park on the market for upwards of $21 mil
One GCB recently put on the market is a property at Oriole Crescent in the Raffles Park GCB area. Designed by Aamer Taher of Aamer Architects, the property sits on a 10,481 sq ft freehold site along a quiet stretch of road in the landed enclave tucked within Bukit Timah.
The 3½-storey bungalow, which spans 12,500 sq ft, was built by its previous owners — Dr Winston Jong, the group CEO and group medical director of medical assistance company EMA Global, and his wife Rowena.
The Jongs worked with Taher to design a modern bungalow with six bedrooms, which they moved into with their three daughters upon its completion in 2011. In late 2018, they decided to put the house up for sale as their family, which had since expanded to three generations, had outgrown the property.
George Lee, CEO of Myriad Realty, had helped the couple market the house, which was eventually sold in December 2018 for $20 million, translating to a psf price of $1,908.
The present owner, Mrs Cheng, was originally from Hong Kong. She moved to Singapore nearly a decade ago with her husband, who works in the financial sector. They have two daughters and were previously living in a condo unit at nearby Goodwood Residence. They decided to buy a larger property that could better accommodate their growing girls who were aged four and six at the time. (Discover insightful data of any Singapore condominium with our condo directory)
While the Chengs had bought the property at Oriole Crescent with the plan of staying long term, few could predict the changes brought about by Covid-19. Barely six months after they had completed their renovations and moved into the house in August 2019, the pandemic happened.
Coming into 2022, the Chengs face another change, with Mr Cheng being posted overseas for work. As the entire family will be relocating, the Chengs have decided to put the house up for sale. Myriad Realty’s Lee, who sold them the house, is now helping them with their own sale process.
The Chengs had spent nearly a year looking at properties before deciding on the house at Oriole Crescent. What first struck them about the house was its unique exterior. “When I first visited the house, it looked different from others, not like a house with a typical square design,” says Mrs Cheng.
Looking inside the house, the Chengs were also impressed with how the layout had been configured, allowing each room to get ample natural sunlight without having west-facing windows, thus circumventing the harsh afternoon sun.
What helped cement the Chengs’ decision to buy the house was the fact that it was relatively new, with little renovations required on their end. While the couple were house-hunting, they had considered buying vacant land or an older house with the idea of demolishing it and building a new one from scratch. However, given the time it would take to construct and the logistical hassle of managing such a project, they decided buying the house at Oriole Crescent would be much more manageable.
In hindsight, the Chengs say it was a good call. Given that the pandemic kicked in about a year after they had purchased the Oriole Crescent house, the disruptions would have impacted them had they chosen to build a new house. Instead, the renovations at Oriole Crescent ended up taking just around five months, with the family moving in by August 2019.
The first floor of the house features the living room and a spacious kitchen, along with a dining room. Here, the Chengs took down a wall separating the living room and the kitchen, replacing it with a glass sliding door instead to open up the space. There are also two powder rooms and a sizeable wine cellar. “The cellar became a useful space to store extra food supplies during the lockdown period,” Mrs Cheng says, laughing.
The living area overlooks the patio and a saltwater swimming pool, which spans a generous 23m in length and is much beloved by the Chengs’ two daughters, who often play and swim there.
The second floor houses a family room along with three en suite bedrooms, including a master suite that comes with a walk-in wardrobe. The master suite is also linked to a separate room currently used as a home office. Up on the attic floor, there is a gym area, where the Chengs knocked down a wall for an enlarged space, as well as another en suite guestroom. There is also a roof terrace, which opens out to views of the surrounding estate stretching out to the city.
Meanwhile, the basement level houses another en suite guestroom and a spacious common area that the Chengs use as an activity area or a secondary area for entertaining guests. A cold room previously installed by the Jongs in the basement that was used for food storage was converted by the Chengs into a karaoke room, equipped with sound-proofed walls and a projector screen. The basement also leads out to the car park, which can fit seven cars.
The small thoughtful details incorporated into the design of the house are what set it apart, says Myriad Realty’s Lee. For example, in the kitchen, a large built-in table designed for informal family meals comes installed with equipment for hot pot that is discreetly covered. The glass home lift services all floors of the house, and is wide enough to fit a wheelchair or stroller.
The current asking price for the property is $31 million, or $2,958 psf. Recent transactions for GCBs in Raffles Park included a house on Cassia Drive that was sold for $22 million, or $2,206 psf, according to a caveat lodged on Jan 8. Another house on Linden Drive was sold for $27 million, or $2,451 psf, on Dec 29. The asking price for the house at Oriole Crescent reflects the property’s move-in condition, notes Lee. “A GCB of a similar size in places like Cluny Hill or Dalvey Estate would probably cost $40 million to $50 million,” he comments. Many of the GCBs currently on the market are older, and require refurbishing. (Check all latest Singapore property Market Trends)
The Cheng family will be sad to leave Singapore, and by extension, the house they had spent so much time and effort furnishing and decorating. Many of the furniture items around the house were hand-picked and imported from Italy. “While we didn’t do a lot of major renovations, we spent a lot of time sourcing for furniture and decorations,” says Mrs Cheng. Given their impending move, the Chengs are open to selling their home with the furniture and other decorative components.
Check out the latest listings near Oriole Crescent, Raffles Park