At $39 million, this price tag for Good Class Bungalow (GCB) in Belmont Road is already considered lower than before. 80
Belmont Road will be relaunched for auction this week at Amara Singapore.
Relaunch of 80 Belmont Road at a lowered price tag of $39 million
GCB in 80 Belmont Road. Picture: Knight Frank Singapore
This will be the freehold property’s third attempt at a sale. It was first launched for sale in July with a price tag of $42 million. It was then launched again last month for $40.2 million.
The latest price tag of $39 million translates to a psf price of $1,444.
The site has a land area of 27,000 sq ft while the 2-storey GCB has a gross floor area of 15,714 sq ft. The auction will be a mortgagee sale as the bank forecloses on the property due to defaults in payments from the owners.
The bungalow has some characteristics which may appeal to buyers, though some dithering about the price may be expected. It sits on a 2-tiered land and has its own basketball court, playground, swimming pool, lift and a parking space that fits up to 10 cars.
It is also situated near Holland Village and the Singapore Botanic Gardens.
5 Belmont Road also to be auctioned – for $20 million
Located in the exclusive enclave of private residential properties between Holland Village and Bukit Timah, Belmont Road tapers off from Holland Road. 5 Belmont road will also be going up for auction later this month for $20 million or a guide price of $1,225 psf.
This Good Class Bungalow also has a freehold tenure. In the past year alone, 2 bungalows here have been sold – a 15,004 sq ft GCB at 63 Belmont Road which sold for $39.8 million; and a 15,069 sq ft GCB at 43 Belmont Road which sold for $33.8 million.
Both were newly completed and were sold last year in June and August respectively.
See more: Dyson Tycoon buys GCB in addition to the penthouse
