$86.0M Good Class Bungalow Sale — Queen Astrid Park (July 2021)

Gcb Transaction Spotlight 3 min read Last reviewed
TL;DR
A $86.0M Good Class Bungalow sale on Queen Astrid Park (District 10) — plot size, land PSF, tenure, and what it signals.

A Good Class Bungalow on Queen Astrid Park in District 10 transacted for $86.0M in July 2021, within the Queen Astrid Park GCB Area. The plot spans 2,955 sqm (31,806 sqft) of land at $2,703 psf on land area — placing it among the island's landmark landed deals.

$86.0M
Transacted Price
2,954
Land Area (sqm)
$2,703
Land PSF
999 yrs lease commencing from 1876
Tenure

Why This Deal Matters

Good Class Bungalows are Singapore's most exclusive homes — plots of at least 1,400 sqm, capped at two storeys, confined to 39 gazetted GCB Areas, and (for the landed plot) restricted to Singapore Citizens. Fewer than 2,800 exist island-wide, so any $20M+ transaction is a market signal for the top end of the residential market.

FAQ

How much did the Queen Astrid Park Good Class Bungalow sell for?
It transacted for $86.0M in July 2021, on a 2,954 sqm plot ($2,703 psf on land).
Can foreigners buy a Good Class Bungalow?
No. Landed property in a gazetted GCB Area is reserved for Singapore Citizens; Permanent Residents require Land Dealings Approval Unit (LDAU) approval, granted only in exceptional cases.
What makes a bungalow a 'Good Class Bungalow'?
A GCB sits in one of 39 gazetted GCB Areas on a plot of at least 1,400 sqm, is capped at two storeys, and follows strict URA planning rules that protect the low-density character of these neighbourhoods.

Methodology

Sourced from URA caveats. We count only Detached homes on gazetted GCB streets with a plot of 1,400-5,000 sqm (the upper cap excludes en-bloc / whole-site sales) transacting at \$20 million or more. GCB Area assignment uses our internal street→area gazetteer.

Related

Tags: Gcb Good Class Bungalow Landed Luxury Singapore Property Transactions

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