JUST SOLD: GCB at Mount Echo Park sold for $3.75 million profit

By Tan Chee Yuen
/ The Edge Property |
Join our  Telegram  channel and follow our  Facebook  for the latest update.
A 16,284 sq ft Good Class Bungalow (GCB) located at Mount Echo Park changed hands for $22.25 million, or $1,323 psf with a profit of $3.75 million in January this year. This represents the second most expensive transaction for a GCB this year, trailing the amount paid of $25 million, or $1,493 psf for another GCB at King Albert Park earlier in January. There are a total of three transactions involving GCB so far this year.
GCBs are landed detached houses that have a plot size of at least 1,400 sqm or about 15,069 sq ft, and are located within the designated Good Class Bungalow Areas. Owing to their rarity and exclusivity, they are often seen as the most luxurious and desirable type of residence in Singapore.
2016 year-to-date GCB transactions
Street name
Postal District
Planning Area
Area (sq ft)
Sold on
Sales price ($)
Bought on
Purchase price ($)
Profit ($)
Annualised return (%)
Mount Echo Park
10
Tanglin
16,824
27/1/2016
22,250,000
13/8/2010
18,500,000
3,750,000
3.4
Yarwood Avenue
21
Bukit Timah
16,167
11/1/2016
15,700,000
4/2/2002
6,800,000
8,900,000
6.2
King Albert Park
21
Bukit Timah
16,749
4/1/2016
25,000,000
12/5/2010
14,900,000
10,100,000
9.6

Source: URA, The Edge Property

* Profitabiliity computed based on caveat data matching and excludes all fees and duties, as well as any construction and renovation costs

Advertisement
Looking for bungalows near Mount Echo Park? Click here to start browsing

Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter

Our Site

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

View More