Real estate's hot properties

Sales of Good Class Bungalows are quite rare. In the past five years, for instance, just 174 Good Class Bungalow transactions have been tracked by property firm JLL - on average only a few dozen a year.

Some Good Class Bungalows have vast grounds.

One at 35 Ridout Road, which changed hands in May last year, covers 73,280 sq ft - about the size of a football field. It went for $91.7 million or $1,251 a square foot.

JLL data showed that 2P Bishopsgate had the highest per square foot pricing of all Good Class Bungalowdeals in the last five years at $2,190. The 15,070 sq ft Good Class Bungalow was sold for $33 million in May last year.

While these posh homes are sought after, finding a buyer is not always easy. A company controlled by Wing Tai chairman Cheng Wai Keung and his wife put a Good Class Bungalow at 33 Nassim Road up for sale in April 2013. The 84,839 sq ft site - with a selling price of $250 million to $300 million - is not yet sold.

One high-profile Good Class Bungalow deal was closed recently, when developer OUE bought two plots in Nassim Road from the British government for $56.58 million.

Upmarket developer Simon Cheong also sold a two-storey Good Class Bungalow on a 16,750 sq ft plot in King Albert Park for $25 million in January.

So far this year, 19 Good Class Bungalows have been sold with a total value of $470 million.

JLL announced on Tuesday that it is marketing a large Good Class Bungalow at 17 Leedon Park, which has a price tag of $70 million to $75 million.

Wong Siew Ying

A version of this article appeared in the print edition of The Straits Times on September 17, 2016, with the headline 'Real estate's hot properties'. Print Edition | Subscribe