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

By Tan Chee Yuen
/ The Edge Property |
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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 $1,435 psf in 2015. There were a total of 17 transactions involving GCB in 2015, compared to 15 in 2014.
GCBs are landed detached houses that have a plot size of at least 1,400 sqm or about 15,069 sq ft, and are located within the designated Good Class Bungalow Areas. Owing to their rarity and exclusivity, they are often seen as the most luxurious and desirable type of residence in Singapore.
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2016 year-to-date GCB transactions
Street name
Postal District
Planning Area
Area (sq ft)
Sold on
Sales price ($)
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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