28 April 2022 update: The scion of beauty products distributor Luxasia Group has been reported to be in the process of purchasing a separate two-storey bungalow, which is also owned by Mr. Lee Hsien Yang and his wife, for S$13.25m (S$1,336 psf). Situated in the Caldecott Hill Estate Good Class Bungalow Area (GCBA), this property has a built-up area of 9,920 sqft. The bungalow has been described as a “resort-style modern bungalow” with six bedrooms, two living rooms, a dining room, a basement wine cellar and lounge, a helper’s room, an infinity pool and a koi pond.
The younger brother of Singapore Prime Minister Lee Hsien Loong, Mr. Lee Hsien Yang, and his wife, Mrs. Lee Suet Fern, have put up their two-storey freehold bungalow in Caldecott Close – a Good Class Bungalow (GCB) area at Caldecott Hill Estate (Newton/Novena – District 11) – for sale at a price of S$16.8m or S$1,699.03 per square foot (psf).
Advertised and verified as a 6-bed house for sale in the Caldecott Hill Estate on 99.co, the property was built in 1985 (TOP: 2005) and sits on 9,888 square feet of land, with a built-up area of 6,000 sq ft.
Its 6 bedrooms are spread over two levels – a junior master and guest/study room on the first level, and 4 bedrooms with en-suite bathrooms on level 2.
There are also 2 living rooms, a dining room (that can fit 20 diners), basement lounge, walk-in wine cellar, helper’s room, large infinity pool, koi pond and parking for up to 4 cars.
In the past, 99.co has shared how Singapore is currently experiencing a property boom in the sale of houses, such as good class bungalows, due to their rarity and exclusive neighbourhoods.
There are only 39 gazetted GCB areas in Singapore, such as Nassim Road and Bin Tong Park.
Here’s a list of the gazetted 39 Good Class Bungalow Areas (GCBAs):
- Belmont Park
- Bin Tong Park
- Binjai Park
- Brizay Park
- Bukit Sedap
- Bukit Tunggal
- Caldecott Hill Estate
- Camden Park
- Chatsworth Park
- Chee Hoon Avenue
- Chestnut Avenue
- Cluny Hill
- Cluny Park
- Cornwall Gardens
- Dalvey Estate
- Eng Neo Avenue
- Ewart Park
- First/Third Avenue
- Fort Avenue
- Fourth/Sixth Avenue
- Gallop Road/Woollerton Park
- Garlick Avenue
- Holland Park
- Holland Rise
- Kilburn Estate
- King Albert Park
- Leedon Park
- Maryland Estate
- Nassim Road
- Oei Tiong Ham Park
- Queen Astrid Park
- Raffles Park
- Rebecca Park
- Ridley Park
- Ridout Park
- Swiss Club Road
- Victoria Park
- Windsor Park
- White House Park
These GCB areas were officially gazetted in 1980. The purpose was to ‘protect the high environmental quality of these established large bungalow areas from intrusion of more intensive forms of housing, such as semi-detached or terrace houses.’
As part of URA’s control plan for these GCB areas, it’s set certain guidelines. For instance, the minimum plot size for any newly created bungalow within the 39 GCB areas must be at least 1,400 sq m (15,070 sq ft). Unless it is at least 2,800 sq m (30,139 sq ft) in size, it cannot be sub-divided into two GCB plots as well.
Any thoughts on the sale? Let us know in the comments section below.
If you found this article helpful, 99.co recommends Good Class Bungalow (GCB) house-hunting: Confessions from agents and TikTok CEO buys S$86m GCB – it’s official, tech and gaming-related entrepreneurs are buying Good Class Bungalows.
Don't Miss Out On The Only EC Launch of 2024: Lumina Grand
We are a property search engine with the overarching goal of building a more transparent and efficient property market. We are working towards that future by empowering people with the tools and information needed to find a place to live in the best way possible.
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
One easy way is to send us a request for a credible and trusted property consultant to reach out to you.
Alternatively, you can jump onto 99.co’s Property Value Tool to get an estimate for free.
If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal 99.co.
Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
Join our social media communities!