Singapore is among the ultra-prime markets for residential properties. In the last 12 months to 3Q2018, over 12 properties were transacted above $25 million. These also included good class bungalows, the ultra-exclusive and massively spacious landed homes preferred by the well-heeled.
Here are five of the most expensive residential properties transacted in Singapore.
81 Dalvey Road
This GCB is among the largest bungalows which can reportedly be developed into three bungalows. Notably, the property stands on 52,054 square feet which is three times the size set out by law. Up until its sale, the property was under the ownership of the late Lim Kim San. San is one of the founding fathers of Singapore.
Interestingly, the newest owner of the property is a member of the wealthy Tsai family with its origin in Taiwan. In particular, the property was sold for $93.9 million which translates to $1,804 per square feet. According to property analysts, the GCB was able to fetch the high price due to its convenient location close to the city state’s botanical gardens.
Further, the home has two storeys and is located in the White House Park GCB Area. Interestingly, this location is one of the most sought after compared to the other 38 gazetted GCB locations in the country. The new owner of the bungalow will now be in very close proximity with embassies such as Japan, Russia, Philippines, and even Israel.
35 Leedon Road
This is the second most expensive residential property transacted this year in Singapore. According to a caveat lodged early this year, the property fetched $57.5 million, or $1,309 per square feet. The property has a total land area of 43,928 square feet.
The seller – Madam Chong – is a veteran in the property market, and was dubbed the “Queen of Leedon Park”. Madam Chong held the GCB for over 21 years after she acquired it in mid-1996 at $17.7 million, a fraction of her eventual selling price.
65 Bin Tong Park
The GCB on 65 Bin Tong Park was sold for $48 million, or $2,063 psf. With a total land area of 23,263 square feet, it was one of the most expensive GCBs sold for this year in psf terms.
While the identity of the sellers is unknown, what is known is that they acquired the property in 2007 for $15 million, and subsequently redeveloped it for $10 million.
The GCB has two storeys with a glass-covered balcony, and it includes a basement which incorporates a home theatre, wine cellar, and an entertainment area.
82 Belmont Road
This property sold for $43.5 million, or $1,430 psf, based on its land area of 30,408 sq ft. The new owner of the property is Kuok Hui Kwong, the chairperson of Shangri-La Asia, and the daughter of Robert Kuok.
The bungalow is located in the Belmont Park Good Class Bungalow (GCB) Area, and is about 15 years old, according to data released by URA Realis.
3 Jervois Hill
Measuring 15,086 sq ft, the property sold for $41.2 million, or $2,730 psf. This bungalow at Jervois Hill has two levels including a basement and was previously owned by a seasoned property investor, George Lim. Lim had earlier acquired the property for $25.8 million and spent another $10 million to redevelop it.