22 Sep '16, 5pm

Lady Hill Road Good Class Bungalow sold at S$24m

THE Good Class Bungalow (GCB) market continues to be busy. The latest transactions include an old freehold house along Lady Hill Road in a prime GCB location which sold for S$24 million. The price works out to S$1,423 psf based on the land area of 16,863 sq ft. This seems a relatively low psf price for a prime GCB location but that may have to do with the property's age - it is about 20 years old and the fact that the plot slides downwards towards the rear. "This is a very good deal for the buyer," said Realstar Premier Group managing director William Wong. Singapore Christie's International Real Estate managing director Samuel Eyo points out that compared to the area's last transaction, the British Government's sale of two vacant plots in Nassim Road last month for S$1,600-plus psf, the price achieved for the Lady Hill bungalow reflects the condition of the house and the ...

Full article: http://www.srx.com.sg/singapore-property-news/24082/lady-...

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