Hypes on Singapore landed properties

As the tides of the endemic do not seem to be slowing down with the rise in cases on a day-to-day basis, other aspects in the real estate economy mirror the rising effect as well. This has been attributed to the fact that more and more big technological heads and Singaporeans have been snatching up Good Class Bungalows (GCBs).

To provide some context, Good Class Bungalows (GCBs) have become a hot commodity among tech entrepreneurs in the city-state. In recent months, Grab CEO and co-founder Anthony Tan splashed out S$40 million on a GCB in neighbouring Bin Tong Park in a deal completed earlier in July. Co-founder of Temasek-backed gaming chair company SecretLab Ian Ang also bought a S$36 million GCB in the Caldecott Hill Estate and a S$15 million penthouse at Leedon Residence in June. These big purchases are followed by CEO of Chinese video sharing application TikTok, Chew Shou Zi, who is in the early stages of purchasing a 31,800 square foot GCB located in Queen Astrid Park, with plans to redevelop the S$83 million property.

Inevitably, this has caused an escalation in the total of land prices. However, the real concern riding on this piece of news is: how exactly will it lead to the overall spike of the property prices in Singapore?

With the demand for GCBs impacted, the market has also seen an increase in demand from Singaporeans on landed properties, therefore pushing the prices up even further. Looking at the economic market conditions today, what course of action should you take that would best benefit you?

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