Changing hands: Major GCB sales in the past
Big sellers in the past
FROM the 1990s through to the 2000s, numerous large plots in Good Class Bungalow Areas (GCBAs) changed hands, with embassies, foreign banks and corporates being the major sellers.
In December 1992, Standard Chartered Bank sold several properties including in Belmont Road (with a land area of 146,627 sq ft and which fetched S$22.2 million or S$151 psf), in Dalvey Estate (99,900 sq ft transacted at S$15 million or S$150 psf) and Cornwall Gardens (42,329 sq ft, sold for S$7.6 million or S$180 psf).
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