SINGAPORE – Landed property sales in good class bungalow (GCB) areas, the most exclusive segment of Singapore’s residential market, have again come under the spotlight, with the latest sale in the Caldecott Hill GCB area by Mr Lee Hsien Yang and his wife, Mrs Lee Suet Fern.
These trophy assets tend to be in hot demand because of their long-term investment value and rarity in the housing market. There are less than 3,000 GCBs in 39 gazetted GCB areas in Singapore, which is less than 1 per cent of total private housing stock, according to JLL.
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