Good Class Bungalow land priced at close to $50M up for auction amid rising market prices

  • 📰 IndependentSG
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The valuation the agents have assigned to the land, between $46 million to $48 million, significantly exceeds the current benchmark for GCBs.

SINGAPORE: Knight Frank Singapore has announced that a freehold Good Class Bungalow land plot in the prestigious District 10 is up for sale by auction. This announcement comes at a time when the GCB market is witnessing a resurgence in activity following a subdued second half in 2023.

Knight Frank has set the indicative price for this piece of real estate at approximately $4,028 per square foot , translating to a total valuation between $46 million to $48 million. This pricing significantly exceeds the current benchmark, where unit land prices for GCBs have breached $2,685 psf. The renewed vigor in the GCB market is evident, with five deals amounting to $291.39 million already transacted this year. This follows a period of muted performance in the latter half of 2023, indicating a rebound in interest and investment in these high-value properties.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

14 Chancery Lane bungalow hits marketpstrongThe property has a guide price of $43m./strong/p pA Good Class Bungalow at 14 Chancery Lane has hit the market with a guide price of $43 million, or $2,038 per square foot./p pKnight Frank is managing the property sale through a tender process, set to close on Tuesday, 25 June, 3:00 PM.
Source: SBRMagazine - 🏆 13. / 51 Read more »