Good Class Bungalows in Singapore are just some of the most costly, most requested properties in the city. There are very few Singaporeans who live in landed areas and there are only a few GCBs available in the city-state. This is the reason why bungalows command higher prices than almost any other kinds of living spaces. GCBs can be compared to luxury condos regarding how much they cost to buy .
The Urban Redevelopment Authority ( URA ) has opted to gazette Good Class Bungalows with 39 areas protected. The explanation for this was to protect the high environmental quality of these established massive bungalow areas from the intrusion of more intensive forms of housing like semi-detached or patio houses.
Walk around chosen GCB areas and you may find not only beautiful houses but old trees as well . The URA's plans to protect these areas come hand in hand with not only saving the houses but the area as well . Designating areas for Good Class Bungalows make sure that these houses remain under 2 stories and that trees and the over all ambiance of the area will differ from the common busy, crowded and rushed areas in Singapore.
Good Class Bungalow owners have to put up with housing constraints issued by the URA. This contains a minimum plot size, not extending to over 2 stories, and plots can't be sub-divided in order to make 2 GCBs. Owners also need to agree not to build a bungalow that consumes more than 35% of the plot. There also has to be sufficient greenery in between plots of land. Most of all, foreigners aren't allowed to own Good ClassBungalows.
In 1994 as an example, a huge GCB area off Tanglin area became for sale through a public tender. Single unit GCB also post healthy gains for owners. A property off Ridout Road was originally opened for bidding at $7.31 million but sold at $8.96 million.
There are approximately 1,000 Singaporeans who can proudly call themselves GCB owners. A lot of them see their properties as investments. If you own Singapore Bungalows then you can consider yourself a chum of Lady Luck!
