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Binjai Rise mortgagee-sale GCB sold for about S$13m

Sub-S$800 psf on land area reflects noisy location next to PIE, say analysts, while acknowledging GCB prices have softened of late

Published Fri, Aug 21, 2015 · 09:50 PM

Singapore property

Singapore

A PARTIALLY completed Good Class Bungalow (GCB) at 15 Binjai Rise, located next to the noisy Pan Island Expressway, has finally been sold - after two rounds of auctions and a tender.

Talk in the market is that the price paid for the mortgagee-sale property was around S$13 million. That works out to about S$763 per square foot (psf), based on the land area of 17,035 sq ft.

A Hong Kong-based bank put up the freehold…