image: Nigel Howe

Landed Residential Property

There are essentially two types of landed property:

These are either Land-titled or Strata-titled.

Land-TitledStrata-Titled
Landed HousingStrata-titled Landed Housing
Good Class BungalowStrata Bungalow
Detached HousesStrata Semi-Detached
Semi-Detached HousesStrata Terrace
Terraces HousesMixed Strata Landed Housing

Landed Properties Classification Requirements

Landed TypesMin. Plot SizeMin. WidthMin DepthBuilding CoverageMax. Height
Good Class Bungalow1,400 sq m18.5m30m35%Up to 2 storeys
Detached400 sq m10mNo control35% to 45%Up to 3 storeys
Semi-Detached200 sq m8mNo controlNo controlUp to 3 storeys
Corner Terrace150 to 200 sq m8mNo controlNo controlUp to 3 storeys
Inter-Terrace110 to 150 sq m6mNo controlNo controlUp to 3 storeys

Good Class Bungalows

Good Class Bungalows are the cream of the crop for landed housing in Singapore. These are exclusive properties set in designated and coveted locations in the island. They are required to have a minimum plot size upwards of 1404 sq m, and a building height of no more than 2 storeys high. This segment of the market targets the rich and famous. There are about 2,700 such coveted homes scattered across 39 demarcated estates in Singapore. These estates seat on prime residential land, making them the targets of high net-worth individuals.

 

Nassim Area
The best of the lot and probably the priciest in the island can be found in the Nassim area, where some embassies like the Embassy of Japan, the Philippines Embassy and the Royal Embassy of Saudi Arabia are also sited.

 

Chatsworth Area
The location covers Bishopsgate, Chatsworth and Rochalie, as well as Swettenham Road and Pierce Road in the Tanglin- Holland vicinity.

Around the Botanic Gardens - the attractive Cluny and Dalvey GCB enclave have a charm of their own.

It is said that a good investment is one that can stand the test of time. It is my belief that Good Class Bungalows do really fall into this category. Ranked at the very top of the housing hierarchy, GCBs offer the exclusivity, prestige and investment value befitting their high price tags. Demand has shot up intensely in recent years. There is always a price to pay for scarcity and these GCBs are no ordinary gems. It oozes class and luxury and plenty of land space.

As the number of wealthy individuals in Singapore grew and the property market  began to run-up in 2006-07, demand for GCBs surged. The total transaction value reached S$1.54 billion in 2007, doubled the S$770 million reached in 2005. In 2008, the global financial crisis caused a slow down in the GCB market. It however rebounded promptly in 2009, reaching a total transaction value of S$1.68 billion. In 2010, the transaction value hit a record SGD 2.19 billion.

In 2011 and 2012 GCB transaction values fell sharply to SGD 1.09 billion and SGD 1.27 billion respectively, following a series of property cooling measures.

For the first eight months of 2013, only 21 GCBs worth SGD 511 million were sold.

 

Good Class Bungalows In Dist. 10
Belmont ParkCluny Park Fourth / Sixth AvenueMaryland Estate Ridout Park
Bin Tiong ParkCornwall GardensGallop Rd / Woolerton Park Nassim Road Victoria Park
Brizay ParkDalvey Estate Garlick AveOei Tiong Ham Park White House Park
Bukit Sedap Ewart ParkHolland Park Queen Astrid Park
Chatsworth ParkFirst / Third AvenueHolland Rise Rebecca Park
Cluny Hill Ford AvenueLeedon Park Ridley Park


Good Class Bungalows In Dist. 11
Bukit TunggalChee Hoon AvenueSwiss Club Road
Caldecott Hill EstateEng Neo Avenue
Camden ParkRaffles Park
Good Class Bungalows In Dist. 20
Windsor Park
Good Class Bungalows In Dist. 21
Binjai ParkKilbun EstateKing Albert Park

Good Class Bungalows In Dist. 23
Chestnut Avenue

GCB Transactions In District 11

Good Class Bungalow recent transactions from Jan 2013 till Aug. 2015

Contract DateAddressProperty TypeTenureLand Area (sq ft) PricePSF
11Dec 201428, Chancery LaneGCBFreehold23,928$25,388,800$1,061
8 May 201330, Chancery LaneGCBFreehold20,688$28,500,000$1,378
11Feb 201319, Camden Park GCBFreehold15,070$25,000,000$1,659
27Feb 20138, Chee Hoon Avenue GCBFreehold15,188$22,900,000$1,508

GCB Transactions in District 20

Recent transactions from Jan 2013 to Aug 2015

Contract DateAddressProperty TypeTenureLand Area (sq ft) PricePSF
2 Jan 201355, Windsor Pard Road GCBFreehold19,278$27,000,000$1,400
18 Jan 201355, Windsor Park Hill GCBFreehold22,486$25,300,000$1,125

 

Growth in the value of Good Class Bungalows (GCB)

Timeline | District 20

Good Class Bungalows Growth Timeline for Dist. 20
Contract DateAddressPlot Area (Sq ft)Sales PricePrice psf
2/1/20132, Windsor Park Hill19,278$25.3M $1,125 psf
9/7/200710, Windsor Park Hill25,392$10.5M $413 psf
29/12/20036, Windsor Park Hill21,506$4.9M $228 psf

This is just insane. If these values are anything to go by, GCB value in Windsor Park Estate shot up roughly two fold in slightly over 5 years and approximately four fold over 10 years for the period from 2003 to 2013.


Realised Gains For Good Class Bungalow (GCB) owners in 2016

Good Class Bungalows Realised Gains
Contract DateAddressDistrictArea Sq FtSold at Bought atPurchase DateProfit
11/2/2016Pierce Rd Tanglin (D. 10)16,22123.999M9.5M20/4/200614.499M
4/1/2016King Albert ParkBkt Timah (D. 21)16,74925M14.9M12/5/201010.1M
11/1/2016Yarwood AveBkt Timah (D. 21)16,16715,7M6.8M4/2/20028.9M
27/1/2016Mt Echo ParkTanglin (D. 10)16,82422.25M18.5M13/8/20103,75M

Source: URA / Squarefoot Research


2016 GCB transactions

A GCB (Good Class Bungalow) located at 12 Peirce Road with a land size of 16,221 sq ft was sold for $24M / $1,480 psf on in February this year. The owner paid $9.5M / $586 psf for this property in April 2006

 GCB at Pierce Rd - image   © Google Street View

GCB at Pierce Rd - image  © Google Street View

The seller bought the property way back in April 2006 for $9.50 million, or $586 psf.

As of end February, there are only four GCB transactions thus far, and these all within the $30 million range.

GCB sold above $30M in Yr 201 5 -  5 transactions.

GCB sold above $30M in Yr 2014 - 9 transactions.

Average prices for GCBs in 2015 was $1,374 psf.

Average prices for GCBs in 2014 was $1422 psf.