Bungalows dominate the list.
Big-ticket sales of Good Class Bungalows (GCBs) drove private residential demand in the fourth quarter, according to a report by Colliers.
The report noted that investment sales in the private residential segment amounted to $688.83m in Q4, down 19% from $850.3m in Q3. Sales of large landed homes contributed 70.1% of total deal value.
The largest deal of the quarter was the sale of a two-storey freehold GCB at 61 Dalvey Road for $26m, or $1,724 per sq ft over the land area of 15,080 sq ft. The bungalow comes with five bedrooms and a swimming pool, and is situated on an elevated plot opposite the Israeli Embassy.
The house was sold by a Singaporean couple who lives in Hong Kong. The buyer is Ng Han Whatt, who is a member of the Ng family of listed Pan-United Corporation.
Another notable transaction was a two-storey freehold bungalow at 16 Cable Road which was sold for SGD22.00 million, or $1,293 per sq ft over the land area of 17,018 sq ft.
The bungalow is located n a conservation area within the Chatsworth Park GCB area, and comes with five bedrooms, an entertainment room, a swimming pool and a garden. The buyer is understood to be the son of Oxley Holdings executive chairman Ching Chiat Kwong, Colliers said.
Private residential investment sales dropped mainly because there were no collective sal
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