{"id":43496,"date":"2017-02-09T15:42:27","date_gmt":"2017-02-09T08:42:27","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-multimilion-dollar-decay-of-old-singapore-bungalows\/"},"modified":"2017-02-09T15:50:50","modified_gmt":"2017-02-09T08:50:50","slug":"the-multimilion-dollar-decay-of-old-singapore-bungalows","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-multimilion-dollar-decay-of-old-singapore-bungalows\/","title":{"rendered":"The multimilion-dollar decay of old Singapore bungalows"},"content":{"rendered":"


\nOnce kings of their hills, these homes have skyrocketed in value even as they deteriorate
\nSeveral bungalows are in a grand state of disuse across Singapore. Biyu\/Shutterstock
\nIn a land-scarce city like Singapore, empty land parcels are highly coveted, with property developers putting down billions in government tenders. Abandoned homes are anomalies.
\nThere are 20 old, disused bungalows and villas strewn across the city-state, Straits Times reported last month. Owners of these properties have no plans to dispose of them in the immediate future or are legally
\nmired in family disputes and legal battles, according to SLP International executive director Nicholas Mak.
\n\u201cThe value of these properties will only increase, especially if they are freehold. Owners keep hold on them as a form of investment or for the next generation. These are usually their spare properties and not their main place of residence.\u201d<\/p>\n

More: Malaysian history for sale
\nOne such property at 9 Claymore Road was valued at USD151.5 million in 2007, Times investigation showed. Abandoned since the 1970s, the house belongs to Tan Kheng Chuan, owner of the Hiap Ann Sago Factory.
\nFor all their opulence, the properties have become minor annoyances to residents. \u201cIt\u2019s not nice to see such a building with rotten leaves lying all around in a prime area,\u201d a woman who lives near the stately but vacant 67 Cairnhill Road told the Times. \u201cIt\u2019s quite unsightly.\u201d
\nFor now at least,\u00a0they\u00a0remain a\u00a0source of fascination for conservation and heritage experts.<\/p>\n

Read next: What\u2019s next for HCMC\u2019s vanishing cultural heritage?
\n
\nSource : property-report.com
\nRead more…The multimilion-dollar decay of old Singapore bungalows<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Once kings of their hills, these homes have skyrocketed in value even as they deteriorate...<\/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-43496","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-bjy","jetpack-related-posts":[{"id":100672,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/colliers-appointed-to-lease-manage-183-heritage-black-and-white-bungalows\/","url_meta":{"origin":43496,"position":0},"title":"Colliers appointed to lease, manage 183 heritage black-and-white bungalows","date":"October 30, 2018","format":false,"excerpt":"\r View of a stately black and white bungalow in Adam Park. (Photo: Colliers International) The Singapore Land Authority has appointed Colliers International to lease and manage 183 heritage black-and-white bungalows located at various neighbourhoods in Singapore. Ranging from 800 to 13,200 sq m, the restored bungalows feature colonial designs\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61282,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/strong-pick-up-in-sales-of-gcbs-and-sentosa-cove-homes\/","url_meta":{"origin":43496,"position":1},"title":"Strong pick-up in sales of GCBs and Sentosa Cove homes","date":"July 20, 2017","format":false,"excerpt":"\r View of waterfront bungalows in Sentosa Cove. Sales of good class bungalows (GCBs) and Sentosa Cove homes picked up in the first half of 2017 from a year ago, according to a report by List Sotheby\u2019s International Realty, Singapore. Based on caveats lodged with URA Realis, 20 GCBs and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99826,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/only-top-5-of-earners-can-afford-landed-homes\/","url_meta":{"origin":43496,"position":2},"title":"Only top 5% of earners can afford landed homes","date":"October 15, 2018","format":false,"excerpt":"\r Landed homes are some of the most expensive properties in Singapore. Only the top five percent of earners in Singapore or professionals like financial directors, specialist medical practitioners, lawyers and CFOs can afford landed properties in the city-state, reported the Business Times citing a ValueChampion research. This comes as\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":44049,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/calls-for-singapore-government-to-ease-disparity-of-property-taxes\/","url_meta":{"origin":43496,"position":3},"title":"Calls for Singapore government to ease \u2018disparity\u2019 of property taxes","date":"February 14, 2017","format":false,"excerpt":"\r The Real Estate Developers\u2019 Association of Singapore says some taxes are too great a burden for businesses A tax review would be in line with the governments objectives, say Redas. Image: Nickolay Stanev\/Shutterstock The Real Estate Developers\u2019 Association of Singapore (Redas) has called on the government to review the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120009,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/growing-demand-for-sentosa-cove-bungalows\/","url_meta":{"origin":43496,"position":4},"title":"Growing demand for Sentosa Cove bungalows","date":"January 15, 2021","format":false,"excerpt":"\r Singapore continues to draw foreign buyers despite travel restrictions, partly due to\u00a0its success in handling the pandemic.\u00a0Sentosa Cove is the only place where a foreigner may seek approval to acquire a\u00a0landed residential property\u00a0for their own use. Real estate agents expect the healthy sales momentum for bungalows within Sentosa Cove\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/sentosa_cove.original.jpg?fit=840%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":115288,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cluny-park-gcb-sold-for-40mil\/","url_meta":{"origin":43496,"position":5},"title":"Cluny Park GCB sold for $40mil","date":"March 31, 2020","format":false,"excerpt":"\r \u00a0 A bungalow in Cluny Park is being sold for $40 million or nearly $1,964 per sq ft based on the freehold property\u2019s 20,369 sq ft area, reported The Business Times. 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