The most expensive Good Class Bungalows sold in Singapore in 2018

By EdgeProp Singapore / EdgeProp | October 8, 2018 12:58 PM SGT
Good class bungalows, more commonly known as GCBs, are considered to be the most prestigious type of residential property in Singapore.
With a typical land size of 1,400 sq m (15,069 sq ft) and above, GCBs aren’t just super large, they’re also super rare – only about 2,800 of them exist within Singapore’s 39 gazetted GCB areas.
Source: URA
A bungalow that falls within the boundaries of such GCB areas are also subject to planning constraints that include a maximum building height of only two storeys. There also has to be sufficient greenery in between plot areas.
Since 2012, only Singaporeans are eligible to buy in GCB areas. The exclusivity and strong status symbol associated with GCBs have made them among the most sought after residential properties in Singapore.
According to K H Tan, managing director of Newsman Realty, GCB deals have picked up in recent months due to an influx of new citizens and strong demand from local high net-worth individuals seeking “super prime GCBs”.
Based on caveats lodged, here are the most expensive GCBS to have been sold in 2018, ranked by absolute prices. Only transactions involving non-corporate buyers were considered in our analysis:
1) 81 Dalvey Road
Land size: 4,836 sq m (52,054 sq ft)
Price: $93.9 million ($1,804 psf)
Based on data from URA Realis, the GCB changed hands for $93.9 million on 25 September. (Credit: JLL)
The freehold GCB in prime District 10 was owned by one of Singapore’s founding fathers, the late Lim Kim San. Lim, who was the first chairman of HDB, oversaw the wide-scale construction of public housing for Singaporeans.
The two-storey home sits on 52,054 sq ft of elevated ground, at one of the highest points in the neighbourhood, and is two-minute drive to Singapore Botanic Gardens. As the minimum land size for a GCB is 15,069 sq ft, the plot could be subdivided into three GCB plots.
It was put...