Editor's note: A previous version of this article stated that the buyers of the good class bungalows were Indonesians. This is incorrect. The buyers are Singapore citizens. We are sorry for the error.
Three two-storey good class bungalows (GCBs) at Nassim Road have been sold for S$206.7 million in total.
The buyers are apparently three members of the same Indonesian family, who have become Singapore citizens, Mothership understands.
S$69 million each
According to property news site Mingtiandi, the three GCBs were sold for about S$4,500 per square foot, for a total of S$206.7 million.
The three houses are said to each have five bedrooms and a swimming pool, and are all about 15,131 sq ft each, meaning that each one sold for about S$69 million.
The three bungalows are located side by side at 42, 42A and 42B Nassim Road in District 10, giving the owners the full span of space to use and develop.
Mingtiandi reported that the houses will be for the family's own use.
The S$4,500 per square foot valuation broke the previous record of S$4,291 set in 2022 for a property at the nearby Cluny Hill.
Despite the record price, the sale price is actually 14 per cent lower than the original asking price of S$239 million sought in September 2022.
Destination of choice
Cuscaden Peak Investments owned the properties, and this is the second time in five months that it has sold off a GCB, having previously sold a two-storey home at Yarwood Avenue in November 2022 for about S$30 million.
The sale comes as Singapore becomes an ever more appealing destination for wealthy families from across Asia and the world.
As reported by Mingtiandi, GCBs represent the most exclusive high-end homes available in Singapore, with only 2,800 such properties available here.
The mansions are in a prime location, with one end of Nassim Road being at Orchard road, and the other at the Botanic Gardens, with the embassies of Russia, Japan, and the Philippines also located along the road.
Eden Hall, the official residence of the British High Commissioner, is also located on Nassim Road.
Facebook co-founder Eduardo Saverin is also reported to live in the area in a S$230 million 84,500 square foot property.
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Top image of 42 Nassim Road via Google Maps