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Author: leahlim   |   Latest post: Thu, 22 Aug 2019, 1:25 PM

 

Super rich in Nassim

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Singapore’s most prestigious address just saw a Good Class Bungalow sold for $230 million. It is the latest in a string of record-breaking bungalow and luxury penthouse deals. Why are the ultra-rich flocking to Singapore?

 

The Good Class Bungalow (GCB) at Nassim Road has an old-world grandeur: sprawling 84,544 sq ft grounds with a tennis court and inground swimming pool, a guard post at the gate and a winding road leading up to the double-storey mansion perched at the top. The house is also shielded from prying eyes by a thick hedge of tall trees.

The GCB was sold for $230 million, making it the biggest GCB deal in terms of absolute price. Even in terms of price psf, it is one of the highest today – at $2,720 psf. “Given the land size of the Nassim Road GCB, the magnitude of the price – both in absolute and psf terms – is astounding,” says a source who declined to be named.
 
 

 

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