Good Class Bungalow in Belmont Road sold for more than S$44m

Singapore

A COUPLE of large Good Class Bungalow transactions have been inked recently.

Seasoned property investor Thomas Chan is said to be selling a bungalow at Belmont Road for more than S$44 million. The price translates to S$1,413 per square foot on the land area of about 31,125 square feet.

On the freehold elevated site is a 15-year-old bungalow with about 9,000 sq ft of built-up area. The property is said to have five bedrooms and a pool.

Market watchers point out, however, that the site is large enough to be subdivided into two plots of at least 1,400 square metres (15,069.46 sq ft) each. This is the minimum land area stipulated by the Urban Redevelopment Authority for Good Class Bungalows (GCBs) - th…