Ultimate GCB Singapore Guide [2024]

GCB Singapore

Welcome to our ultimate guide to Good Class Bungalows (GCBs) in Singapore, the crown jewels of Singapore’s property market. GCBs are exclusive landed properties nestled within prime residential districts, each boasting a minimum land area of 1,400 square metres. This scarcity and prestige are recognized by the Urban Redevelopment Authority (URA), which has demarcated only certain areas as ‘Good Class Bungalow Areas.’

The best place to buy good class bungalows in Singapore are Chatsworth, Cluny Road near the Orchard Road shopping belt, Ridley Park off Tanglin Road, Leedon Park near Holland Road, adnd King Albert Park off Bukit Timah Road.

In this guide, we’ll take you through everything you need to know about these coveted properties in Singapore, offering you an inside look into what makes them so extraordinarily sought after.

What is GCB?

Good Class Bungalow (GCB), is a unique and prestigious type of residential property found exclusively in Singapore. Considered the pinnacle of luxury living in Singapore, GCBs are characterized by their extensive land size – a minimum of 1,400 square meters – and are often located in the most affluent neighborhoods. They’re the epitome of exclusivity, with only around 2,800 of these homes in the entire country.

Good Class Bungalows (GCBs) are not just homes; they’re a symbol of status and achievement, a testament to the success of their owners. Their architectural designs range from traditional to modern, but they all share one common trait: a luxurious abundance of space, both indoors and outdoors. GCB in Singapore represents an extraordinary blend of extravagance, comfort, and privacy.

Key Considerations

• Location: GCBs are primarily located within designated GCB areas. These areas are often prized for their tranquility, lush greenery, and exclusivity.
• Price: Given their coveted status, GCBs come with a hefty price tag. It’s essential to ensure financial readiness before diving into such a significant investment.
• Government Regulations: There are unique regulations in place to maintain the prestigious nature of GCBs. For instance, the plot ratio cannot exceed 0.4.
• Architectural Style: GCBs vary greatly in architectural style, from colonial to modern avant-garde. It’s important to choose a style that complements your personal taste and lifestyle.
• Future Potential: Given their rarity and the limited supply, GCBs are often seen as an excellent investment for future appreciation.

Best Place to Buy a Good Class Bungalows in Singapore

In order to preserve their exclusivity, prestige, and character, GCBs can only be built in 39 gazetted areas in Singapore. Unlike most neighbourhoods in Singapore, these areas are surrounded by big plots of land and greenery. In terms of their size, the Urban Redevelopment Authority (URA) stipulates that:

• GCBs cannot be built more than two storeys high (not inclusive of an attic and a basement)
• All GCBs must have a land area of at least 1,400 sq m (approx. 15,069 sq ft)
• Up to 40% of the land is allowed for the home, while the remaining 60% is dedicated to greenery and landscaping (pools, gardens, basketball courts, etc)

These are usually located in prime and popular areas such as;

• Chatsworth
• Cluny Road near the Orchard Road shopping belt
• Ridley Park off Tanglin Road
• Leedon Park near Holland Road
• King Albert Park off Bukit Timah Road

Eligibility to Buy Good Class Bungalows in Singapore

• Citizenship: Only Singaporean citizens are eligible to purchase a GCB. It is not available for purchase by foreigners, Permanent Residents, or companies.
• Financial Capacity: Given the high price tag of GCBs, potential buyers must demonstrate their ability to afford such an investment. This often requires extensive financial planning and consultation with financial advisors.
• Adherence to Regulations: Buyers must comply with the Urban Redevelopment Authority’s (URA) guidelines regarding the design, construction, and maintenance of GCBs. Violation of these rules can lead to heavy penalties.
• Understanding of the Market: A thorough understanding of the real estate market is crucial. Prospective buyers should be aware of the current market trends and the potential for future appreciation of GCBs.
• Legal Clearance: All legal aspects, including clearance from the authorities, need to be in place before a successful purchase. This includes necessary permissions and licenses.

How Much Do Good Class Bungalows Cost?

Due to their rarity and esteemed status, Good Class Bungalows (GCBs) in Singapore command significantly higher prices than average bungalows. It is not uncommon for GCBs to transact at a minimum of $8 million.

In 2019, there were a total of 34 GCB deals amounting to $645.7 million. Among these transactions was the sale of an 84,453 sq ft GCB at 33 Nassim Road, which fetched an astonishing $231 million.

The per square foot (psf) prices of most GCBs are comparable to the more affordable bungalows in Sentosa Cove’s Paradise Island. According to Stuart Chng, Senior Associate Executive Director of OrangeTee & Tie, the average price of a GCB in District 10 from December 2019 to May 2020 was $1,597 PSF.

“However, it is important to note that averages do not accurately represent factors such as property age, land characteristics, or recent renovations. Properties that require reconstruction or are located on less desirable land shapes or gradients may command less than $1,000 PSF,” he explains.

Stuart believes that affluent buyers will be actively seeking attractive GCB deals and will seize the opportunity to acquire discounted properties. Drawing from the uptrend in prices that followed the Global Financial Crisis in 2008, he anticipates a similar trend, which could explain the recent surge in GCB deals.

“The GCB market has demonstrated resilience, with prices remaining stable and even increasing after the Global Financial Crisis. Despite the impact of COVID-19, Singapore continues to attract top-tier talents from around the world, who are choosing to make this city their home. Consequently, I foresee prices remaining robust, unaffected by significant downward pressures. This category of homeowners is unlikely to face financial stress due to their diversified portfolios and access to liquidity,” Stuart adds.

“In the second quarter of 2020, I expect sales in the GCB market to improve as global stock markets and market sentiments show signs of improvement.”

GCB Singapore

Good Class Bungalows (GCBs) represent the pinnacle of landed property in Singapore, offering an unmatched blend of luxury, exclusivity, and prestige. These bungalows, located in prime estates such as White House Park and Swiss Club Road, are nestled within lush greenery, offering tranquility and privacy in the heart of the bustling city-state.

With regulations stipulating a minimum plot size of 1,400 square meters, GCBs must have a minimum amount of freehold land, ensuring a generous expanse of both indoor and outdoor space for homeowners to enjoy. These landed properties, often situated in treasured bungalow estates, provide a unique opportunity for potential investors seek to immerse themselves in a lifestyle of unparalleled elegance and refinement.

The allure of GCBs extends beyond their physical attributes, encapsulating the prestige and status they confer on their owners.

Since you’ve made it to the end, why don’t you check out more of our blog posts down below:

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• Ultimate Terrace House Singapore Guide (2024)

Frequently Asked Questions

If you have any questions about GCB Singapore, you can refer to the frequently asked questions (FAQ) below:

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