Singapore’s bungalow sales regain pace in the rarefied world of the rich amid lull in lockdown as coronavirus cases ebb
- A bungalow on Cable Road recently sold for S$18.9 million, after having been on the market since last year
- A bungalow sold for S$28 million on Chatsworth Road in early August
In the rarefied world of the rich, transaction activity in the bungalow market has picked up in the past two months.
Recently, a Good Class Bungalow (GCB) on Cable Road, located opposite the High Commission of Malaysia in the Jervois area was sold for S$18.9 million (US$13.8 million), or S$1,456 per square foot. The two-storey, five-bedroom detached house with swimming pool sits on a freehold land site of 12,981 sq ft. It was a mortgagee sale, and had been on the market since last year.
On Chatsworth Road, off Tanglin Road, a GCB sitting on a 14,995 sq ft, freehold site was sold for S$28 million ($1,867 psf), also in early August. The deal was brokered jointly by Steve Tay, senior associate vice-president of List Sotheby’s International Realty, who represented the buyer, and KH Tan, managing director of Newsman Realty, who represented the seller.
Just off Jervois Road is Mount Echo Park, where another GCB changed hands recently for about $27 million ($1,781 psf), although a cave- at has not been lodged. List Sotheby’s Tay and Newsman Realty were also said to have acted jointly on the sale, on behalf of the owner and the buyer respectively.
These deals were all completed in Phase Two reopening on June 19 after the “circuit breaker” period, when prospective buyers and agents were allowed to visit the property and gauge the suitability for their requirements, according to List Sotheby’s Tay.
