After a quiet second quarter, the Good Class Bungalow (GCB) market has been stirring this quarter, with at least five transactions so far.
The biggest of them, amounting to S$35 million, is for an old bungalow along Ridout Road near Swettenham Road. The price works out to almost S$1,040 psf based on the land area of nearly 33,700 sq ft.
The buyer is understood to be the managing director of homegrown supermarket chain Sheng Siong, Lim Hock Leng. The freehold property sits on a conservation area within the Ridout Park GCB Area.