News Formal

Good Class Bungalows S$100K/month rent slashed to S$65K/month as premium housing market sees slump

  • 📰 IndependentSG
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

Indonesia Berita Berita

Indonesia Berita Terbaru,Indonesia Berita utama

Rising property taxes and maintenance costs, particularly for conservation bungalows, are also influencing the decline in GCB rentals

SINGAPORE: The rental market for luxury properties, particularly Good Class Bungalows , slashes monthly rentals in response to a muted premium housing market.

Similarly, the Bishopsgate GCB, previously leased at a record-breaking S$150,000 per month, remains vacant following the legal issues of its tenant, Vang Shuiming. After substantial renovations costing S$1.2 million, including upgrades to the home automation system, kitchens, and an addition of a wine storage room, the GCB was listed at S$60,000 per month in late 2021.

The shift in rental prices is attributed to a more cautious market environment following the government’s crackdown on money laundering cases. Mr Alan Cheong from Savills Singapore says tenants paying monthly rents between S$80,000 and S$120,000 often want to buy the property once they become citizens.

Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:

 /  🏆 9. in İD
 

Terima kasih atas komentar Anda. Komentar Anda akan dipublikasikan setelah ditinjau.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Good Class Bungalow land priced at close to $50M up for auction amid rising market pricesThe valuation the agents have assigned to the land, between $46 million to $48 million, significantly exceeds the current benchmark for GCBs.
Sumber: IndependentSG - 🏆 9. / 63 Baca lebih lajut »