{"id":109518,"date":"2019-07-31T11:48:08","date_gmt":"2019-07-31T04:48:08","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-this-the-most-expensive-property-transaction-in-singapore-ever\/"},"modified":"2019-07-31T12:03:36","modified_gmt":"2019-07-31T05:03:36","slug":"is-this-the-most-expensive-property-transaction-in-singapore-ever","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-this-the-most-expensive-property-transaction-in-singapore-ever\/","title":{"rendered":"Is this the most expensive property transaction in Singapore ever?"},"content":{"rendered":"


\nA sprawling Good Class Bungalow (GCB) at 33 Nassim Road has been sold for $230 million, marking a new record in absolute price terms, reported The Business Times.
\nA privately-owned firm controlled by Cheng Wai Keung, chairman of Wing Tai Holdings, and his wife, Helen, sold the 84,543 sq ft property to custody services firm SG Casa Pte Ltd.
\nThe price works out to a land rate of $2,721 per sq ft.
\nProperty searches indicated that the contract for the acquisition of the freehold property was executed on 10 May, with the transfer of the property registered on 4 July.
\nThe $230 million sale surpassed the $105.3 million paid by Winson Group chairman Tony Tung for a bungalow along Nassim Road also last year.
\nAnd while the psf price achieved for the property failed to smash the $2,729.52 psf record set by George Lim last year when he sold his bungalow in Jervois Hill, the $2,721 psf price is still among the highest in a GCB area.
\nProperty agents, however, believe that the record may have been broken by British billionaire, James Dyson, who recently acquired a bungalow along Cluny Road. The bungalow faces the Singapore Botanic Gardens and has a land area of around 15,100 sq ft.
\nEnjoying a 100m road frontage, the existing bungalow at 33 Nassim Road features a full-sized tennis court and an in-ground swimming pool. The freehold site could be redeveloped into five bungalows.
\nIn 2013, the Chengs had put the property for sale by tender, carrying an asking price of $250 million to $300 million.
\nLooking to buy a home but not sure where to start? Get insight on the best locations for your new home with our\u00a0AreaInsider\u00a0Guides.
\nFiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email\u00a0fiona@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Is this the most expensive property transaction in Singapore ever?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A sprawling Good Class Bungalow (GCB) at 33 Nassim Road has been sold for $230...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-109518","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-suq","jetpack-related-posts":[{"id":111658,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nassim-road-gcb-for-sale-for-175m\/","url_meta":{"origin":109518,"position":0},"title":"Nassim Road GCB for sale for $175m","date":"October 17, 2019","format":false,"excerpt":"\r The two-storey bungalow has a total floor area of about 13,839 sq ft and\u00a0is a mere five-minute walk to the Botanic Gardens, and is a 10 minutes\u2019 drive to the CBD. Image source: CBRE A two-storey conservation good class bungalow (GCB) at 40 Nassim Road has been put up\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120527,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/grab-ceos-wife-acquires-gcb-in-bin-tong-park-for-40mil\/","url_meta":{"origin":109518,"position":1},"title":"Grab CEO\u2019s wife acquires GCB in Bin Tong Park for $40mil","date":"July 12, 2021","format":false,"excerpt":"\r The 21,6327 sq ft Bin Tong Park property, bought for $40 million, is expected to be redeveloped by the couple. Source: Google Maps The wife of Grab Co-founder and CEO Anthony Tan has acquired a property within the Bin Tong Park Good Class Bungalow (GCB) area for $40 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/GOOD-CLASS-BUNGALOW.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":110693,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jervois-road-good-class-bungalow-for-sale-at-38-8m\/","url_meta":{"origin":109518,"position":2},"title":"Jervois Road Good Class Bungalow for sale at $38.8m","date":"September 12, 2019","format":false,"excerpt":"\r This District 10 property is situated within the Chatsworth Park Good Class Bungalow area. It is also within the embassy enclave, and is minutes from the central business district A good class bungalow (GCB) along Jervois Road has been put up for sale via tender, carrying a guide price\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109702,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ultra-rich-foreigners-turn-to-singapore-luxury-homes\/","url_meta":{"origin":109518,"position":3},"title":"Ultra-rich foreigners turn to Singapore luxury homes","date":"August 7, 2019","format":false,"excerpt":"\r Luxury residential brokerage firm Sotheby\u2019s International expects foreign ultra-high-net-worth (UHNW) investors to drive sales activity within Singapore\u2019s luxury residential segment. This comes as the geopolitical tensions in the UK and Hong Kong are enhancing the attractiveness of luxury homes within the city-state, reported Singapore Business Review. British billionaire James\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25909,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/leedon-park-gcb-could-fetch-over-70-million\/","url_meta":{"origin":109518,"position":4},"title":"Leedon Park GCB could fetch over $70 million","date":"September 13, 2016","format":false,"excerpt":"\r The 46,879 sq ft plot located on high ground can be subdivided into 3 GCBs, said JLL. A sprawling good class bungalow (GCB) located on one of the highest points of the Leedon Park GCB area has been launched for sale, revealed sole marketing agent JLL. Built in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110315,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condominium-at-nassim-road-up-for-en-bloc-sale\/","url_meta":{"origin":109518,"position":5},"title":"Freehold condominium at Nassim Road up for en bloc sale","date":"August 29, 2019","format":false,"excerpt":"\r The four-storey condominium was completed in 2008, featuring two- and three-bedroom units as well as penthouses that range from 115 sq m to 343 sq m. The owners are asking for a reserve price of\u00a0$222.68 million or $3,508 per sq ft per plot ratio (psf ppr). Beaufort On Nassim,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/109518"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=109518"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/109518\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=109518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=109518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=109518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}