SINGAPORE (EDGEPROP) - The Good Class Bungalow (GCB) market had a stellar performance in 2021 with 93 transactions worth a total value of $2.8 billion. Coming off the property cooling measures announced last December, while the outlook for the GCB market may be slightly tempered, demand for GCBs is expected to remain strong in 2022.
One GCB recently put on the market is a property at Oriole Crescent in the Raffles Park GCB area. Designed by Aamer Taher of Aamer Architects, the property sits on a 10,481 sq ft freehold site along a quiet stretch of road in the landed enclave tucked within Bukit Timah.
The 3½-storey bungalow, which spans 12,500 sq ft, was built by its previous owners — Dr Winston Jong, the group CEO and group medical director of medical assistance company EMA Global, and his wife Rowena.
The Jongs worked with Taher to design a modern bungalow with six bedrooms, which they moved into with their three daughters upon its completion in 2011. In late 2018, they decided to put the house up for sale as their family, which had since expanded to three generations, had outgrown the property.
George Lee, CEO of Myriad Realty, had helped the couple market the house, which was eventually sold in December 2018 for $20 million, translating to a psf price of $1,908.
The present owner, Mrs Cheng, was originally from Hong Kong. She moved to Singapore nearly a decade ago with her husband, who works in the financial sector. They have two daughters and were previously living in a condo unit at nearby Goodwood Residence. They decided to buy a larger property that could better accommodate their growing girls who were aged four and six at the time.
https://sg.finance.yahoo.com/news/good-class-bungalow-raffles-park-230055241.html
