Have you been thinking about getting a landed property as part of your investment portfolio? Well, this is your lucky month because one bungalow will soon be auctioned for those who are interested. But this isn’t your ordinary property. This is considered to be a good class bungalow (GCB) and you can find it along the East Sussex Lane, just a couple of blocks off the Holland Road. One of the marketing agents of Knight Frank Singapore revealed that this GCB will soon be up for grabs through the so-called Expressing of Interest (EOI).
It may not be as new as the Terra Villas, Charlton 18, Whitley Residences or other modern landed properties today. The 27,181 square feet site nestles the house comfortably since 1950’s. Given the right attention, this bungalow can be turned into a luxurious place where both locals and tourists can come or simply an elegant place to live in. The location is actually perfect for those who are always on the go since it is mere blocks away from the Orchard Shopping area and stations at the Buona Vista MRT. This GCB is also ideal even for those who have children since reputable schools are also nearby.
According to Mary Sai, the Executive Director of Investment & Capital Markets, the said landed property’s price may start at S$1,200 per square foot. But surely, anyone can make an offer when the Expression of Interest is initiated.
It was only last month when another GCB located at the Belmont Road was sold for a whopping SG$44.18 million. The price per square foot for the said landed property was SG$1,420. There was also another one at the Bing Tong Park which was sold at a lower price of SG$1,400 psf or SG$30 million.
The Expression of Interest exercise for the GCB off Holland Road will close at the end of this month, July 30. Knight Frank Singapore said that the demand for this type of property is still steady amid the cooling measures affecting the real estate industry.