Good Class Bungalow prices keep rising
Cluny Hill property being built sets record S$4,291 psf; buyer tipped to be Stamped.io founder Tommy Ong who sold the company. Meanwhile, in Chatsworth Rd, two vacant plots sell 40% above neighbouring deal last year
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Singapore
PRICES in Good Class Bungalow (GCB) Areas continue to rise - fuelled by strong demand from well-heeled Singaporeans, low interest rates and the scarcity of properties available for sale, especially brand-new bungalows near the Botanic Gardens.
A local tech entrepreneur in his thirties, who recently sold a startup firm, is in the early stages of buying a freehold bungalow under construction along Cluny Hill for S$63.7 million, or a record S$4,291 per square foot on 14,843 sq ft land area.
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