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Buying the ultimate home

Thursday 13 August 2009

There are wealthy and successful people who can probably afford to buy any home they want, but many of them are being drawn towards good class bungalows (GCBs). There are only 39 designated GCB areas in Singapore and Binjai Park is one of them. However, these areas are not equal.

Douglas Wong, Director of luxury homes at CB Richard Ellis says; ‘Some GCBs locations are more prestigious than others.’

GCB buyers are a discerning group of investors who also have a different view on what makes a good investment.

‘Yields are not part of the investment criteria- which is typically less than 2 per cent,’ said Mr Han. Instead, most see GCBs as a good long term asset class of investment, ‘especially in land scarce Singapore where land value appreciates over time.’

And Mr Han believes that the outlook for GCBs is also good.

‘Generally, GCB prices have fallen by 35 per cent since the peak last year; and with the improved outlook in real estate sector, we expect further price upside in this sector,’ he said.

Source: The Business Times