Good class bungalows are a type of landed housing property that belongs to one of the most exclusive real estate properties in Singapore. Given their high-profile quality, good class bungalows are mostly exclusive to residents of high social standing. Additionally, the name “good class” was most likely created to differentiate the property from other similar yet smaller bungalow plots. In this article, we’ll discuss a handful of unique features of the luxury residential property and some renovation ideas when revamping one.
What Are The Features of a Good Class Bungalow Property?
- High-priced properties for maximum exclusivity - Good class bungalows or GCBs are known to command higher prices than most property types because of their large plot size, exclusive location and special planning constraints. These houses are also known to come in small numbers in the city-state, a quality that only adds to its exclusivity and market value.
- There are 39 GCB areas gazetted by the Urban Development Authority - 39 good class bungalow or GCB areas in the city-state are safeguarded by the Urban Development Authority. This gazette, originally established in 1980, was created to protect the properties from intrusion and to preserve their high environmental quality. To control development in these areas, the URA requires any newly created bungalow to have a minimum plot size of at least 1,400 square meters. As a result, a good class bungalow plot is barred from being developed into more intensive forms of housing. The property can’t also be subdivided into good class bungalow plots unless it is at least 2,800 square meters in size.
- Prime location and architectural style - Good class bungalows are generally found in private forested areas with lush greenery, a quality that can only be afforded by the residents of the property type. Many of the good class bungalows are also more than a hundred years old and date back to the colonial era, adding a unique architectural charm and value to these properties.
- Exclusive to Singaporean citizens - Since 2012, the Singaporean government has enforced a law that limits the ownership of GCBs to the country’s citizens. This was seen as a move to prevent foreign investors and property owners from snapping up these houses and driving up their prices. Foreigners must apply to become a citizen of the country first and seek permission from the Singapore Land Authority before they can buy any good class bungalow property.
- Premium property facilities - Many good class bungalows are usually equipped with facilities such as swimming pools, entertainment rooms, large garages and even bowling alleys. These are only on top of the usual luxury rooms, living halls and gardens that come second nature to the property type.
Who Can Buy Good Class Bungalows?
Singaporean residents can generally buy the property type without any restrictions or impositions from the government.
Can a Foreigner Buy a Good Class Bungalow in Singapore?
A foreigner or a Singapore Permanent Resident (SPR) can buy a GCB in the country with several guidelines and limitations. One notable example of this is the land area of the property must not exceed 1,393.5 sq metres or 15,000 sq feet.
What Are The Best Renovation Ideas for Good Class Bungalow Properties?
- Colonial contemporary - Since most GCBs come in colonial architectural styles, one of the most common renovation ideas is mixing it with a contemporary touch. Walls can be repainted with warmer, brighter colors and adding in new modern fixtures, all while preserving the old-world charm of the house by retaining old furniture and ceiling fixtures.
- Ultra-modern - Out with the old, in with the new. An ultra-modern renovation strips away any of a GCB’s antiquated design styles and replaces them with a completely updated take on modern home design. This includes state-of-the-art fixtures, louder colors and even a new-fashioned home facade.
- Inspired by nature - Nature-driven design themes are another popular way of revamping a GCB. This involves restructuring much of the property’s interiors and fixtures to resemble that of a tree or any nature-driving element.
How Much Does a Good Class Bungalow Cost?
If you’re eyeing a GCB as your next home or property, prepare to pay a hefty price tag of S$27 million to S$50 million. However it doesn’t end there — the most exclusive and high-profile GCBs can go as high as a whopping S$100 million to S$230 million in the real estate market.
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Whether you’re planning a minor or major update on your property, we at ColeBuild can help you make the whole process easier and more efficient by planning better, pricing better, and building better. Contact us today for a free quotation.