Oei Tiong Ham Park area GCB sold for S$31.3 million
This translates to about S$2,089 psf on freehold land area of about 14,982 sq ft
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[SINGAPORE] A freehold Good Class Bungalow (GCB) property in the Oei Tiong Ham Park enclave has been sold for S$31.3 million, or about S$2,089 per square foot (psf) on a land area of about 14,982 square feet (sq ft).
The S$31.3 million price tag is about 27 per cent below the guide price of S$42.8 million when the site was marketed in March 2025.
Exclusive marketing agent Savills Singapore said the site attracted “strong interest from discerning buyers”.
“Despite a more selective luxury property market in 2026, demand for prime GCB assets remains resilient, underpinned by the scarcity of such GCB redevelopment plots and continued interest from ultra-high-net-worth individuals,” it added.
Nick Chan, associate director of investment sales and capital markets at Savills Singapore, also noted that GCBs remain one of Singapore’s most coveted residential asset class, given their scarcity, prestige and long-term wealth preservation attributes.
Located at 5 Jalan Sampurna, the freehold plot close to Holland Road now houses an about 10,000 sq ft bungalow built in the 1980s.
Alan Cheong, executive director of research and consultancy at Savills Singapore, said: “Although the number of GCB transactions has apparently been low, this deal shows that for properties located in the better GCB areas, demand is still evident if the pricing is right.”
Other deals
In July this year, The Business Times reported that a bungalow in the Cluny Park GCB area is back on the market with an indicative price of S$98.8 million, or S$3,313 psf on the land area of 29,818 sq ft.
Prior to that, entrepreneur and philanthropist Shiv Puri was reported to have bagged a bungalow in a quiet area of Nassim Road for S$64.9 million, or nearly S$4,550 psf on the freehold land area of 14,264 sq ft.
SEE ALSO
In March, former Sincere Watch boss Tay Liam Wee sold his 23,922 sq ft vacant GCB site in Nassim Road for S$92 million or S$3,846 psf.
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