The Business Times
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Good Class Bungalow rentals slip following money-laundering scandal 

Jessie Lim

Jessie Lim

Published Thu, Oct 26, 2023 · 08:18 PM
    • The hilltop GCB in Nassim Road where Su Baolin, one of the 10 suspects in the money-laundering case, resided.
    • The hilltop GCB in Nassim Road where Su Baolin, one of the 10 suspects in the money-laundering case, resided. PHOTO: ZAIHAN MOHAMED YUSOF, ST

    LANDLORDS of Good Class Bungalows (GCBs) have begun lowering rents, as demand from ultra-high-net-worth individuals falls in the wake of Singapore’s S$2.8 billion money-laundering bust.

    Owners of these homes, which sit at the apex of Singapore’s residential property market, may also be taking longer to secure tenants.

    In Singapore, there are an estimated 2,700 GCBs in 39 gazetted GCB areas.

    Good class bungalowluxury homesCONDOSSingapore property

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