What is the current status of GCB properties in Singapore

Good Class Bungalows (GCBs) in Singapore are a category of the most exclusive and luxurious landed properties. Here are some key points about GCBs:

Location and Zoning

GCBs are located in 39 designated Good Class Bungalow Areas, which are strictly zoned to maintain their exclusivity and prestige.

Size and Land Area

These bungalows typically sit on large plots of land, often exceeding 15,000 square feet, although the minimum land area required is 1,400 square meters (about 15,069 square feet).

Price and Transactions

GCBs are highly valued and can command significant prices. For example, a GCB at Victoria Park was listed for sale at $61 million, and another at Swettenham Road was transacted for $51 million, reflecting a price per square foot of $3,276.

Luxury Features

These properties often feature extensive and luxurious interiors, such as multiple en-suite bedrooms, helpers' rooms, basement carparks, and elaborate landscaping. For instance, a GCB at 4A Swettenham Road has been transformed into an 18,000 sq ft, five-bedroom luxury home with modern amenities.

Market Trends

The market for GCBs has shown strong momentum, with average prices increasing despite fluctuations in transaction volumes. In 2023, the average price of GCBs sold increased by 11.6% to $1,889 per square foot compared to the previous year.

Conservation and Heritage

Some GCBs are also heritage properties, blending historical charm with modern luxury. An example is the conservation GCB at Nassim Road, which combines heritage elements with resort-style living features.