Holland Rise Good Class Bungalow Sold To New Citizen For S$50m
Mah Bow Tan, former Minister for National Development who retired from politics in 2015, sold his Good Class Bungalow (GCB) at Holland Rise last August. The 28,376 sq ft freehold site is on a quiet street at Holland Rise with just a handful of GCBs. It is just off Holland Road in prime District 10. According to a property title search, Mah purchased the property in 1992.
In the latest transaction, Mah’s GCB on Holland Rise was sold to Wang Qianqian, a Chinese-turned-Singapore citizen, who purchased it for S$50 million (S$1,762 psf). Based on the transfer document, the contract was signed in April 2023, with the deal completed in August last year.
Wang’s address in the property title is a GCB at Leedon Park, also in prime District 10. A further property title search shows that the GCB at Leedon Park sits on a freehold site of 21,584 sq ft and was purchased by her brother, Wang Tianlong, for S$37.3 million (S$1,728 psf) in January 2021. The Wang siblings are said to be in their early-30s.
Good Class Bungalow Values in Holland Rise Neighbourhood
GCB values in the Holland Rise neighbourhood in prime District 10 have appreciated significantly in recent years. In January 2021, a 52,992 sq ft, freehold empty GCB plot at Holland Rise was put up for sale by Cushman & Wakefield by expression of interest at a guide price of S$68 million (S$1,283 psf).
Less than two years later, in November 2022, that same vacant GCB plot on Holland Rise was on the market for sale at 55.88% higher – S$106 million (S$2,000 psf), with Knight Frank as the marketing agent. The GCB plot is large enough to be subdivided into two or three smaller GCBs and is accessible via Holland Rise and East Sussex Lane.
According to caveats lodged, the latest transaction in the neighbourhood of East Sussex Lane and Holland Rise was for a bungalow house on Holland Road: The house was built in 1959 and sits on a freehold site of 6,768 sq ft. It changed hands for S$10 million (S$1,596 psf) in November 2023.
Holland Rise may be an exclusive area, but it’s close to Holland Village, the new One Holland Village Mall, Holland Village MRT Station, and a seven-minute drive to Dempsey Hill.
(Source: EdgeProp)
Do you intend to buy or sell your property?
You may be thinking what is the next step for you and if it is worth going through the necessary work to buy or sell your property.
When is the best time to sell and can I sell for a better price than my neighbours?
What are my options for buying a property and how can I get the best deal?
Here at The Landed Collective, we specialise in residential properties and that means, HDB flats, Condos, Landed Houses and New Developer Sales.
Before you start anything, speak to us for a complimentary consultation as we will provide you with comprehensive advice, run through the essentials on the property market and answer any questions you may have.