Property prices really have gone up across all segments, even the extreme luxury end. Good class bungalows (GCBs) have been all the rage in 2021: From $144 million worth in transactions in 48 hours (in July), to news of tech billionaires developing a penchant for these. There’s also a good likelihood that, with Covid-19 continuing to wreak havoc, the GCB.
If you visited the Botanic Gardens recently, you might have noticed the beautifully restored Atbara (1898) and Inverturret (1906) bungalows at the Gallop Road extension. I’m so glad that after being in a state of disrepair for many years, NParks and SLA finally decided on restoring these two bungalows that have often been associated as the oldest black and white.
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Nassim Road is located near the Botanic Gardens in central Singapore. Google Maps
Nassim Road s ultrawealthy residents live in mansions known as good class bungalows the most coveted type of housing in Singapore, which must have a land area of at least 15,000 square feet. Nassim has become a brand name on its own, Bruce Lye, the cofounder and managing partner at Singapore Realtors Inc., told me. The Nassim address itself commands a big premium.
He added: If you have the opportunity to own a piece of land there, it s something that can be passed down for generations to come.
Of the handful of good class bungalows publicly listed on Nassim Road right now, the cheapest is about $45 million, and the priciest is roughly $72 million.
Nassim Road, Singapore
The exclusive area of Nassim Road in Singapore made headlines earlier this year, when the wife of a Singapore tech founder paid $128.8 million Singapore dollars (about US$96 million), for a house. The house in question was a Good Class Bungalow (GCB), known as one of Singapore’s most prestigious and expensive properties.
Historically, the prices of GCBs in Singapore can range anywhere from slightly over S$15 million to S$100 million. However, on average, prices of GCBs tend to fetch about S$30 million or more. GCB’s are only found in a handful of districts, with Nassim Road regarded as one of the top destinations for the properties. Dubbed the “crème de la crème” of Singapore’s residential address, Nassim Road is also known as the embassy row due to the numerous numbers of embassies setting there. The Embassy of Japan, Embassy of The Republic of Philippines and the Embassy of the Russian Federation are all located along Nassim Road.