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Convicted Singapore oil tycoon OK Lim’s Tanglin Hill Mansion sold at S$4M discount amid SG’s luxury property market challenges

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The good-class bungalow in Tanglin Hill is set to be sold for S$39.2 million, down from its initial listing price of S$43 million

Convicted Singapore oil tycoon OK Lim’s Tanglin Hill Mansion sold at S$4M discount amid SG’s luxury property market challengesA mansion owned by convicted Singapore oil tycoon Lim Oon Kuin is being sold for nearly S$4 million below its original asking price amid ongoing challenges in Singapore’s luxury property market despite a recent uptick in sales,, as listed by Knight Frank in June.

The mansion is situated near Orchard Road, Singapore’s prime shopping area, and occupies approximately 15,636 square feet. The property boasts five bedrooms and a swimming pool. A major money-laundering scandal significantly impacted Singapore’s luxury property market a year ago. Although there have been several mansion transactions this year, the values of older properties are still under pressure.

 

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