Exclusive and First Class Homes
Good class bungalows, more commonly known as GCBs, are considered the most exclusive residential and first class in Singapore real estate. These homes are usually sold to the wealthiest people in Singapore such as business tycoons and real estate developers. International celebrities, billionaires who became Singapore Citizens are also owners of Good Class Bungalows.
What is a Good Class Bungalow (GCB)?
- To be classed as a GCB (Good Class Bungalow), the property must have a land area of at least 15,000 sq ft and be situated in those areas gazetted for GCBs.
- URA’s guidelines stipulate that GCBs cannot be built more than two-storeys high (plus an attic and a basement) and this is to preserve the exclusivity and character of such neighbourhoods.
Who is eligible to own GCB?
- Since 2012 only Singapore Citizens can buy in GCB areas. Foreigners were previously allowed to purchase such homes subject to permission from the Land Dealings (Approval) Unit, but only if the land area didn’t exceed 15,000 sq ft.
Where are GCBs located?
- Located within Singapore’s 39 gazetted GCB areas.
- Some of the more popular GCB areas are Cluny Road near the Orchard Road shopping belt, Ridley Park off Tanglin Road, Leedon Park near Holland Road, and King Albert Park off Bukit Timah Road.
- GCB designated areas are mainly located in the prime residential districts of 10 and 11 as well as the bungalow estates in districts 21 & 23.
- These good class bungalow areas would include the bungalow enclave of Nassim, Ladyhill, Rochalie, Bishopsgate and Chatsworth areas and Cluny Road in District 10, just off the prime Orchard belt. Within close proximity, the GCB areas can be found in Ridley Park off Tanglin Road. GCB areas are also sited along Peirce Road/ Swettenham Road and into Ford Avenue/ Leedon Park off Holland Road.
- GCBs are also found within the bungalow stretches along Duchess Road, Brizay Park and King Albert Park off the popular Bukit Timah Road. The GCB area boundary also extends into Chee Hoon Avenue, Eng Neo Avenue and Swiss Club Road in district 11. Within district 21, areas designated as good class bungalows include the prestigious Binjai Park and Yarwood Avenue localities and Chestnut Avenue in district 23.
Facts of GCBs
- There are about 2,700 GCBs.
- The scarcity factor and strong status symbol make GCBs one of the most sought after properties here and ensures strong capital appreciation.
- Depending on land size and facilities, GCBs can be priced up to $10 million and above. Bungalows with bigger plots and swimming pools can fetch higher prices.
- At least 34 transactions totalling S$730 million in Good Class Bungalow (GCB) Areas were sealed in 2015 - up from 28 deals adding up to S$626 million in 2014.