Good Class Bungalow Manual By Simon Monteiro – The Shophouse Investment Guide

Let us start

Your journey to owning a Good Class Bungalow should ultimately be as enjoyable as living in one – and with this manual and our professional partnership, I trust you feel better prepared to take that momentous step. Welcome to the pinnacle of Singapore luxury real estate

1. What is a Good Class Bungalow? History and Key Characteristics

Definition & Exclusivity
Good Class Bungalows (GCBs) are Singapore’s most prestigious form of landed housing — large, detached homes on plots of at least 1,400 m² (≈15,070 ft²), located only within 39 gazetted GCB Areas [1][2]. These areas are strictly low-density, zoned to preserve privacy, greenery, and exclusivity.
By Urban Redevelopment Authority (URA) rules, GCBs are capped at two storeys above ground (excluding attic and basement) [3], with a maximum building footprint covering ~35–40% of the land [4][5]. The remaining grounds typically feature landscaped gardens, swimming pools, and generous outdoor spaces.
There are estimated to be only 2,500–2,800 GCBs in Singapore [6][7] — a fraction of the housing stock — making them one of the rarest real estate assets in the country.

Origins
The term “Good Class Bungalow” was formally introduced in Singapore’s 1980 Master Plan [8][9], reflecting a government intention to safeguard exclusive residential enclaves. Many of today’s GCB plots were once colonial-era estates — grand residences built by British administrators, merchants, and plantation owners during the 19th and early 20th centuries.
Neighbourhoods such as Nassim Road, Cluny Hill, and Ridout Park were later officially gazetted as GCB Areas in 1980. Some of these still contain conserved “black-and-white” bungalows (approximately 65 are officially gazetted for conservation [10]), where historic facades must be preserved under URA guidelines.

Planning & Zoning Regulations
All GCBs are located within the 39 designated GCB Areas — primarily in Districts 10 and 11 (Tanglin, Bukit Timah), with a few in Districts 20, 21, and 23 [11][12].
To maintain their character, URA imposes strict controls:

Minimum plot size: 1,400 m² (about 15,070 ft²) [13]
Minimum plot width: ~18.5 m; minimum depth: ~30 m [14]
Maximum building height: 2 storeys (attics and basements allowed) [15]
Generous setbacks: ~3 m from side and rear boundaries [16]

These rules ensure a consistently low-rise, green, and spacious environment across all GCB Areas [17].

Prestige & Rarity
Because land supply is fixed and no new GCB Areas have been created since 1980, GCBs are widely regarded as “trophy assets” among Singapore’s wealthy [18][19]. They are often compared to mansions in London’s Mayfair or estates in Beverly Hills — except far rarer.
Ownership is highly coveted as a long-term store of wealth, with values historically resilient even during property market downturns. In some prime districts, well-located GCBs have set record prices exceeding S$4,000–6,000 psf in recent years [35][45].

References for Section 1
[1] URA – Landed Housing Guidelines
[2] SLA – Landed Property Ownership Regulations
[3] URA – Envelope Control for Bungalows
[4] URA Master Plan, Development Control Guidelines
[5] URA – Site Coverage Control for Bungalows
[6] The Business Times, “GCB supply in Singapore estimated at 2,700”
[7] EdgeProp, “Number of GCBs remains stable amid rising demand”
[8] URA Master Plan 1980
[9] Planning Department Archives, Singapore
[10] URA Conservation List – Black-and-White Bungalows
[11] URA – GCB Area Map & Districts
[12] Knight Frank Research – GCB Market Insights
[13] URA Development Control Handbook
[14] SLA – Minimum Dimensions for Landed Housing Plots
[15] URA – Height Controls for Good Class Bungalows
[16] URA – Setback Requirements for Bungalows
[17] URA – Planning Intent for GCB Areas
[18] The Straits Times, “Why GCBs are trophy assets”
[19] Tatler Asia, “The allure of the Good Class Bungalow”
[35] The Business Times, “Nassim Road GCBs sell for record psf”
[45] The Business Times, “Tanglin Hill GCB sale sets new price benchmark”

List of GCB Areas: Singapore’s 39 designated GCB Areas are predominantly clustered around the central region (see map in URA’s Landed Housing Area Plan). Classic GCB neighborhoods include prestigious locales like Nassim Road and White House Park (near the Botanic Gardens), Cluny/Cluny Hill and Dalvey Estate (Tanglin), Ridley Park/Chatsworth Park (near Orchard/Tanglin Embassy area), Holland Park and Belmont Park (Holland/Bukit Timah), Gallop Road/Woollerton Park (adjacent to Botanic Gardens), King Albert Park and Leedon Park (Bukit Timah), among others. The full list of GCB Areas, as defined by URA, includes:

Gazetted GCB Areas (39 total)
Belmont Park	Bin Tong Park	Binjai Park
Brizay Park	Bukit Sedap	Bukit Tunggal
Caldecott Hill Estate	Camden Park	Chatsworth Park
Chee Hoon Avenue	Chestnut Avenue	Cluny Hill
Cluny Park	Cornwall Gardens	Dalvey Estate
Eng Neo Avenue	Ewart Park	First Avenue / Third Ave
Ford Avenue	Fourth Avenue / Sixth Ave	Gallop Road / Woollerton Park
Garlick Avenue	Holland Park	Holland Rise
Kilburn Estate	King Albert Park	Leedon Park
Maryland Estate	Nassim Road	Oei Tiong Ham Park
Queen Astrid Park	Raffles Park	Rebecca Park
Ridley Park	Ridout Park	Swiss Club Road
Victoria Park	White House Park	Windsor Park

2. Buying Procedures, Eligibility and Ownership Restrictions

Who Can Buy a GCB
Under Singapore law, only Singapore Citizens may purchase a landed house in a GCB Area in their own name [22][23]. This restriction is enforced by the Land Dealings Approval Unit (LDAU) under the Residential Property Act.
Permanent Residents (PRs) and foreigners generally cannot buy GCBs, with rare exceptions requiring significant economic contribution and LDAU approval — and even then, approvals for GCBs are virtually unheard of [22].
The only landed properties available to foreigners are in Sentosa Cove (on a case-by-case LDAU basis, and on 99-year leasehold tenure) [24].

High-profile examples of new citizens purchasing GCBs include Facebook co-founder Eduardo Saverin (citizenship in 2012, Nassim Road GCB purchase in 2019) [26] and Sir James Dyson (citizenship in 2019, Cluny Road GCB purchase in 2019) [27][28], as publicly reported in The Business Times and The Straits Times.

Buying Process
The process mirrors other private property transactions but is more discreet and often longer due to the high values and limited supply.

Engage a Specialist Agent – Many GCB sales are handled off-market for privacy. Specialist GCB brokers shortlist properties by location, land size, orientation, design, and budget.
Viewings & Due Diligence – Viewings are typically by appointment and often require proof of financial capacity. Legal and technical checks include title verification, survey plan confirmation, planning constraints, and structural inspections for older homes.
Letter of Offer & Option to Purchase (OTP) – After negotiation, the buyer pays an option fee (commonly 5% of purchase price) to secure the OTP. In some GCB deals, longer option periods are agreed due to financing or approval requirements.
LDAU Approval (if applicable) – For rare PR buyers with in-principle approval, the OTP is conditional upon LDAU consent.
Exercise & Completion – Upon exercising the OTP, the buyer pays the balance deposit (usually bringing total deposit to 20%) and completes within ~3 months.
Ownership Structures – Most GCBs are bought in individual names. Buying through companies or trusts is possible but attracts 65% ABSD unless strict remission criteria are met [31][32].

Legal Restrictions After Purchase

GCB land cannot be subdivided below the minimum 1,400 m² plot size [13].
Rebuilding or major renovations require URA planning approval and adherence to the Envelope Control Guidelines [3].
Conserved GCBs (e.g., in White House Park or Ridout Road) have additional requirements for facade preservation [10].
Renting a GCB is allowed, but owners cannot lease out subdivided plots.

Foreigners & GCBs – Summary
In practical terms, a foreign buyer’s route to GCB ownership is to obtain Singapore citizenship. This has been the path for multiple high-net-worth individuals setting up family offices or relocating businesses here [26][27][28]. Others rent GCBs at rates that can exceed S$50,000–200,000 per month [33] to enjoy the lifestyle without ownership.

References for Section 2
[3] URA – Envelope Control for Bungalows
[10] URA Conservation List – Black-and-White Bungalows
[13] URA Development Control Handbook
[22] SLA – Landed Property Ownership Regulations
[23] LDAU – Residential Property Act Guidelines
[24] SLA – Foreign Ownership of Landed Property (Sentosa Cove)
[26] The Business Times, “Saverin buys Nassim Road GCB”
[27] The Straits Times, “James Dyson becomes Singapore citizen”
[28] The Business Times, “Dyson buys Cluny Road GCB”
[31] IRAS – Additional Buyer’s Stamp Duty (Trust Purchases)
[32] IRAS – ABSD Remission Conditions for Trusts
[33] The Business Times, “Luxury GCB rentals hit $200k per month”

3. The 39 GCB Areas: Locations and Market Differences

Geography of GCB Enclaves
The 39 gazetted Good Class Bungalow Areas (GCBAs) are predominantly located in prime residential districts, forming a “horseshoe” of low-density neighbourhoods around central Singapore [11][12]. Most are in Districts 10 and 11 — including Nassim Road, Cluny Hill, Dalvey Estate, Tanglin/Chatsworth, Ridout Park, Belmont Park, and Leedon Park — while a few are in Districts 20, 21, and 23, such as Caldecott Hill, Binjai Park, and Chestnut Avenue [11][12].
Although close to the city centre, these estates are designed to feel like tranquil suburbs, with wide verges, mature greenery, and discreet access roads.

Area Characteristics
Each GCBA has its own character and market profile:

Nassim Road / Cluny Road (District 10) – Considered the pinnacle of GCB addresses, with proximity to the UNESCO-listed Singapore Botanic Gardens. Plots here can exceed 80,000 ft². According to The Business Times, an 84,543 ft² Nassim Road site sold for S$230M in 2019 (about S$2,720 psf) [34], while more recent transactions have reached above S$4,500 psf [42].
Ridout Park / Chatsworth Park (District 10) – Known for conserved colonial-era “black-and-white” bungalows, many formerly residences of British officers. Large plots are common; for example, in 2015 a 73,277 ft² site at Ridout Road sold for S$91.7M [36]. Per-square-foot (psf) rates are generally lower than Nassim’s due to conservation constraints, but heritage value is significant.
Holland / Belmont / Leedon / Queen Astrid (District 10/11) – Favoured by local families for proximity to top schools and Holland Village amenities. Plot sizes range from 15,000 to 30,000 ft², with recent sales in the S$1,500–3,000 psf range depending on attributes [37][38].
Caldecott Hill / Chestnut / Swiss Club Road (Districts 11 & 23) – More secluded and verdant, appealing to buyers prioritising privacy over centrality. Large estate plots here can have lower psf rates, although the absolute price tags remain substantial; for instance, a 101,550 ft² plot at Garlick Avenue sold for S$93M in 2020 (about S$916 psf) [40][41].

Price Trends by Area
Market data from 2021–2024 shows sustained upward pressure on GCB land values, particularly in central locations:

Year	Location	Land Size	Price (S$)	Land PSF	Source
2019	33 Nassim Road	84,839 ft²	$230M	$2,720	[34]
2021	2 Cluny Hill	14,844 ft²	$63.7M	$4,291	[35]
2023	Three plots, Nassim Road	~15,000 ft² each	$206.7M total	$4,500	[42]
2024	Tanglin Hill	15,150 ft²	$93.9M	$6,200	[45]

Prime central GCBs (e.g., Nassim, Cluny, Tanglin Hill) are now trading above S$4,000–6,000 psf in select cases [35][45], while secondary prime areas (Belmont, Leedon, Binjai) are generally in the S$2,000–3,000 psf range, and “entry” GCBAs (Caldecott, Chestnut) exceed S$1,000 psf [37][40].

Supply Constraints
There are about 2,700 recognised GCB plots in Singapore [49], a figure that can decrease when adjacent sites are amalgamated or acquired for infrastructure. Many GCBAs have fewer than 100 plots, and owners often hold properties for decades, resulting in limited transaction volumes — around 50–60 sales per year in active markets [51].

References for Section 3
[11] URA – GCB Area Map & Districts
[12] Knight Frank Research – GCB Market Insights
[34] The Business Times, “Saverin-linked entity buys Nassim GCB”
[35] The Business Times, “Cluny Hill GCB sets psf record in 2021”
[36] EdgeProp, “Ridout Road GCB sale in 2015”
[37] The Straits Times, “Queen Astrid Park GCB sold to Hin Leong family”
[38] Business Times, “Chancery Lane GCB sale”
[40] The Business Times, “Garlick Avenue GCB sold for $93M”
[41] EdgeProp, “101,550 sq ft Garlick Avenue transaction”
[42] The Business Times, “Three Nassim Road GCBs sold to Fangiono family”
[45] The Business Times, “Tanglin Hill GCB sets $6,200 psf record”
[49] Knight Frank Research – Singapore GCB Market 2024
[51] List Sotheby’s International Realty, “GCB Sales Volume Report 2021”

4. Architectural Trends and Luxury Features of GCBs

One of the most appealing aspects of Good Class Bungalows (GCBs) is their architectural variety — from restored colonial-era residences to newly built contemporary estates by leading architects. While each property is unique, several common themes and trends stand out in the GCB landscape.

Heritage & “Black-and-White” Bungalows

A number of GCBs date back to the early 20th century, featuring the distinctive “black-and-white” colonial style: whitewashed walls contrasted with black timber beams, wide verandahs, high ceilings, and shuttered windows [10]. Many sit on expansive lawns shaded by mature trees.
Where such bungalows are gazetted for conservation, URA guidelines require their external facades to be preserved [10]. While interiors are often modernised, owners retain the historic aesthetic for its charm and rarity.
Example: A Ridout Road GCB sold in 2014 for S$35M (about S$1,039 psf) was originally a 1920s plantation house, later adapted as a residence for colonial officers [47].

Modern Luxury Villas

Over the past two decades, many older structures have been replaced or extensively rebuilt into sleek, modern villas designed by top local and international architects.
Trends include:

Flat or gently sloping roofs
Minimalist lines with large glass panels
Integration of courtyards, gardens, and water features
Double-height living spaces for light and openness

Example: Sir James Dyson’s Cluny Road GCB, designed by Guz Architects, incorporates a curved infinity pool and an indoor water feature, as reported by The Straits Times and The Business Times [27][55].

Resort-Style Amenities

GCB plots often accommodate leisure facilities akin to a private resort:

20–30 metre swimming pools
Pool pavilions and landscaped tropical gardens
Private tennis courts (on larger plots)
Wellness spaces such as yoga decks or spa rooms

Professional landscaping is common, with designs inspired by Balinese retreats or formal English gardens.

Basements & Super Garages

Given URA’s two-storey height restriction [3], many new GCBs utilise basements to expand living space. These often feature:

Climate-controlled wine cellars
Private cinemas
Large garages for car collections

Example: The Tanglin Hill GCB that set the $6,200 psf record in 2024 includes a basement designed to house more than 12 cars, plus entertainment and wine storage facilities [45][56].

Luxury Interiors & Smart Home Tech

Inside, GCBs typically feature imported stone, designer lighting, and high-end appliances. Common elements include:

Separate formal and family living rooms
Master suites with walk-in wardrobes and private lounges
Lift access across all levels
Integrated home automation for lighting, climate, and security

Some homes incorporate personal hobby spaces — such as art galleries, music studios, or private libraries — customised to the owner’s lifestyle.

Architectural Statement Features

Owners often work with architects to create signature design features:

Green roofs and cascading gardens for sustainability
Dramatic entrance halls with floating staircases
Rooftop entertainment terraces with jacuzzis or outdoor kitchens

In recent years, sustainability has become a consideration, with some GCBs incorporating solar panels, rainwater harvesting, and energy-efficient air-conditioning.

References for Section 4
[3] URA – Envelope Control for Bungalows
[10] URA Conservation List – Black-and-White Bungalows
[27] The Straits Times, “James Dyson buys Cluny Road GCB”
[45] The Business Times, “Tanglin Hill GCB sets $6,200 psf record”
[47] The Business Times, “Ridout Road GCB sale in 2014”
[55] The Business Times, “Inside Dyson’s Cluny Road GCB”
[56] The Business Times, “Tanglin Hill GCB basement and luxury features”

5. Financing Your GCB Purchase – Loans, Taxes and Ongoing Costs

(All rates and regulations are accurate as of April 2025; buyers should verify current figures with URA, MAS, and IRAS before making decisions.)

Property Price and Loan Financing

GCB purchases often involve multi-million-dollar sums, and unless bought entirely in cash, they are subject to the Monetary Authority of Singapore’s (MAS) loan rules.

Loan-to-Value (LTV):
- Up to 75% if it’s your first housing loan.
- 45–55% if you have an existing housing loan.
Total Debt Servicing Ratio (TDSR): Monthly repayments on all debt must not exceed 55% of gross monthly income.

High-net-worth buyers often arrange financing through private banks or wealth management divisions, which can tailor solutions and sometimes allow interest-only periods.
Valuation is critical — if the agreed price exceeds the bank’s valuation, the excess must be paid in cash.

Buyer’s Stamp Duty (BSD) [62][63]

BSD is payable on all property purchases and is progressive:

1% on first $180k
2% on next $180k
3% on next $640k
4% on next $500k
5% on next $1.5M
6% on the remaining amount above $3M

For example, a S$20M GCB would incur about S$1.14M in BSD. BSD is payable within 14 days of exercising the Option to Purchase.

Additional Buyer’s Stamp Duty (ABSD) [64][65][66][67][68][69][70][71]

ABSD rates vary by residency status and property count:

Singapore Citizen, 1st property: 0%
Singapore Citizen, 2nd property: 20%
Singapore Citizen, 3rd and subsequent: 30%
Permanent Resident, 1st property: 5%
Permanent Resident, 2nd property: 30%
Foreigner: 60% on any residential property
Entities (companies, trusts): 65%, unless exempted under strict trust beneficiary rules

Because foreigners generally cannot purchase GCBs without citizenship [22][23], these high ABSD rates mainly affect citizens upgrading from an existing home.

Seller’s Stamp Duty (SSD) [72]

Payable if you sell the property within three years of purchase:

12% if sold within the 1st year
8% if sold in the 2nd year
4% if sold in the 3rd year

Ongoing Ownership Costs

Property Tax: Progressive rates based on Annual Value (AV). For owner-occupied homes, rates range from 4% to 23%; for non-owner-occupied residential property, rates range from 11% to 36% (from 2024 onwards).
Maintenance: Large plots may require gardeners, pool technicians, security services, and higher utilities. Owners often budget 0.2–0.3% of the property value annually for upkeep.
Insurance: Comprehensive building and contents insurance is recommended, especially for high-value art, jewellery, or car collections.

References for Section 5
[22] SLA – Landed Property Ownership Regulations
[23] LDAU – Residential Property Act Guidelines
[62] IRAS – Buyer’s Stamp Duty Rates
[63] IRAS – BSD Calculator
[64] IRAS – ABSD Rates (Singapore Citizens)
[65] IRAS – ABSD Rates (SC 3rd Property)
[66] IRAS – ABSD Rates (Permanent Residents)
[67] IRAS – ABSD Rates (PR 2nd Property)
[68] IRAS – ABSD Rates (Foreigners)
[69] Ministry of Finance – Property Market Cooling Measures 2023
[70] IRAS – ABSD for Foreign Entities
[71] IRAS – ABSD for Trust Purchases
[72] IRAS – Seller’s Stamp Duty Rules

6. Notable GCB Case Studies – Styles, Prices and Owners

These case studies illustrate the variety of Good Class Bungalows in Singapore — from conserved heritage residences to newly built architectural statements. All transaction data and buyer identities are drawn from public sources such as URA Realis caveats, The Business Times, The Straits Times, and EdgeProp.

Historic Colonial Estate – 27 Ridout Road (2014)

Land: ~33,700 ft²
Price: S$35M (~S$1,039 psf) [47]
Buyer: Local investor (as reported in BT, 2014)
About: A conserved 1920s colonial bungalow, formerly part of a plantation estate. Located in the Ridout Park GCBA, known for its “black-and-white” heritage homes.

Record Land Price (2019) – 33 Nassim Road

Land: ~84,839 ft²
Price: S$230M (~S$2,720 psf) [34]
Buyer: Entity linked to Eduardo Saverin, Facebook co-founder (The Business Times, July 2019) [26]
About: One of the largest private estates in Nassim Road. The site could potentially be subdivided into multiple GCB plots, though no redevelopment plans have been publicly announced.

Modern Villa – 50 Cluny Road (2019)

Land: ~15,100 ft²
Price: S$50M (~S$3,311 psf) [48]
Buyer: Sir James Dyson (The Straits Times, July 2019) [27]
About: A newly built contemporary home designed by Guz Architects, featuring an infinity pool and water features. Located near the Botanic Gardens.

Nassim Hill Mega-Deal – 30 Nassim Hill (2021)

Land: ~32,160 ft²
Price: S$128.8M (~S$4,005 psf) [35]
Buyer: Jin Xiao Qun, wife of Nanofilm Technologies founder Shi Xu (ST, 2021)
About: High-profile transaction setting one of the highest psf benchmarks at the time. Reflective of growing interest from newly naturalised citizens.

Developer Sale Record – 2 Cluny Hill (2021)

Land: ~14,844 ft²
Price: S$63.7M (~S$4,291 psf) [35][78]
Buyer: Tommy Ong, local tech entrepreneur
About: Sold by luxury developer Meir Homes during construction. Designed by Wallflower Architects.

Ultra-Large Plot – 15 Garlick Avenue (2020)

Land: ~101,550 ft²
Price: S$93M (~S$916 psf) [40][41]
Buyer: Family of billionaire Goh Cheng Liang
About: Among the largest freehold GCB plots transacted in recent years, with redevelopment potential for multiple GCBs.

Legacy Transfer – 42 Chancery Lane (2022)

Land: ~34,216 ft²
Price: S$60.06M (~S$1,931 psf) [38][39]
Buyer: Kelsey Cheng (linked to the Tan family of the Philippines)
About: Pre-war bungalow historically owned by the Namazie family, purchased by a regional high-net-worth family for continued use as a single estate.

Record PSF – Tanglin Hill GCB (2024)

Land: ~15,150 ft²
Price: S$93.9M (~S$6,200 psf) [45][56]
Buyer: Undisclosed Singapore citizen
About: New-build two-storey home with attic and large basement. Developed by Meir Homes and reported by BT as the highest psf GCB transaction to date.

References for Section 6
[26] The Business Times, “Saverin-linked entity buys Nassim GCB”
[27] The Straits Times, “James Dyson becomes Singapore citizen”
[34] The Business Times, “Nassim Road GCB sale at $230M”
[35] The Business Times, “Cluny Hill & Nassim Hill GCB deals set benchmarks”
[38] The Straits Times, “Chancery Lane GCB sale to Tan family”
[39] The Business Times, “Namazie family home changes hands”
[40] The Business Times, “Garlick Avenue GCB transaction”
[41] EdgeProp, “101,550 sq ft Garlick Avenue sale”
[45] The Business Times, “Tanglin Hill GCB hits $6,200 psf”
[47] The Business Times, “Ridout Road GCB sale in 2014”
[48] The Straits Times, “Dyson buys $50M Cluny Road bungalow”
[56] The Business Times, “Features of record-setting Tanglin Hill GCB”
[78] EdgeProp, “2 Cluny Hill developer sale”

7. GCBs in the Media: Business Times, Straits Times, and Social Media Coverage

Good Class Bungalows frequently feature in Singapore’s mainstream press, property research reports, and lifestyle media. In the last decade, high-profile transactions, record-setting prices, and notable owners have been reported across multiple platforms, creating both market transparency and public fascination.

Business Times (BT)

The Business Times regularly breaks news on major GCB transactions, often citing URA Realis data and industry sources.
Examples:

March 2024: BT reported the Tanglin Hill GCB sale at ~S$93.9M (S$6,200 psf), noting the home’s basement capacity for over 12 cars and confirming the buyer was a Singapore citizen [45][56].
Early 2023: BT covered the purchase of three Nassim Road GCBs by the Fangiono family for S$206.7M in total (~S$4,500 psf) [42].
2021: BT reported Tommy Ong’s purchase of 2 Cluny Hill for S$63.7M (~S$4,291 psf) during construction [35][78].

The Straits Times (ST)

The Straits Times often focuses on the human-interest side of GCB deals, highlighting prominent buyers or the historical significance of the properties.
Examples:

2021: ST reported the S$128.8M Nassim Hill GCB purchase by Jin Xiao Qun, wife of Nanofilm Tech founder Shi Xu [35].
2019: ST covered Sir James Dyson’s purchase of 50 Cluny Road for S$50M, noting the property’s architectural design and proximity to the Botanic Gardens [27].
2020: ST reported the sale of Lee Wei Ling’s Ridout Road GCB to Haidilao co-founder Zhang Yong for about S$50M (as per URA caveats).

References for Section 7
[27] The Straits Times, “Dyson buys Cluny Road GCB”
[35] The Business Times, “Cluny Hill & Nassim Hill transactions”
[42] The Business Times, “Fangiono family buys three Nassim Road GCBs”
[45] The Business Times, “Tanglin Hill GCB record psf”
[51] List Sotheby’s International Realty, “GCB Market Update”
[56] The Business Times, “Tanglin Hill GCB basement capacity”
[60] The Business Times, “Camden Park GCB features”
[78] EdgeProp, “Developer sale of 2 Cluny Hill”
[90] YouTube, “Camden Park GCB Tour – PropertyLimBrothers”
[93] Tatler Asia, “Inside a Ridout Road GCB”

Conclusion: Empowering Your GCB Journey

Purchasing a Good Class Bungalow is unlike any other property acquisition in Singapore — it is a rare opportunity to own part of the country’s most exclusive residential heritage.
With limited supply, stringent planning controls, and high acquisition thresholds, the GCB market is designed to protect its unique character while attracting long-term stewards of these prestigious homes.

This manual has outlined the essentials:

The definition, history, and regulatory framework of GCBs
Buyer eligibility and acquisition processes
An overview of all 39 gazetted GCB Areas and their market profiles
Architectural trends, from conserved colonial residences to modern villas
Financing considerations, including stamp duties and holding costs
Case studies of landmark transactions and design inspirations
The role of media in shaping the GCB market’s image

Armed with these facts, you can approach the GCB market with clarity and confidence — whether your goal is to acquire a legacy home for your family, a trophy asset, or a long-term investment.
With the right specialist advice, a clear understanding of the regulations, and strategic market insights, your GCB journey can be both rewarding and enduring.

Legal & Professional Disclaimer

This publication is intended for general informational purposes only and does not constitute legal, financial, or investment advice.
All data, statistics, and transaction examples have been sourced from publicly available information including the Urban Redevelopment Authority (URA), Singapore Land Authority (SLA), Inland Revenue Authority of Singapore (IRAS), URA Realis, The Business Times, The Straits Times, EdgeProp, and other publicly reported sources, and are believed to be accurate as of April 2025.

Real estate regulations, tax rates, and market conditions are subject to change without notice. Readers should verify current requirements directly with the relevant government agencies and consult qualified legal, tax, or financial professionals before making property decisions.

Where buyer or seller names are mentioned, these have been previously reported in credible public media and are included solely as factual references to publicly known transactions.
Any architectural descriptions, photographs, or video references are based on public listings, authorised marketing materials, or published media features; no unauthorised private images are included.

The author and publisher accept no responsibility for any loss or liability arising from reliance on this publication.