News

A Chinese National Reportedly Rents a House Near Holland Road for $200K a Month

2022-06-24 , 10:01 am

The rising cost of living and incoming recession has been an outright downer for us to deal with—

So let me ruin your mood further by informing you of yet another indulgent property news from this tiny island of ours.

House Around Queen Astrid Park

A Chinese national is reportedly renting a Good Class Bungalow (GCB) at a whopping S$200,000 per month.

According to Edge Prop, the house rented is a newly constructed Good Class Bungalow (GCB) located in Queen Astrid Park.

The house is accessible via public transport such as Sixth Avenue MRT station and sits on an “elevated, freehold site” of more than 25,400 square feet.

For reference, one acre is equivalent to 43, 560 square feet.

(Freehold means the property will be owned by the property owner until they decide to sell it lah.)

These GCBs are often rented to nationals who are either waiting for their Singapore permanent residence status or citizenship.

Once attained, these nationals can then move to buy their own home in Singapore.

GCB Popular as ‘Trophy Homes’

If you are wondering why one will go to such lengths to get a GCB, just think of the reasons why some of us go for branded goods.

Essentially, it’s another way for the wealthy to flex and use as a status symbol.

GCBs are also known to be large and “luxurious” looking. An average GCB is minimally sized at 15,069 square feet.

The GCBs are also commonly used as private clubhouses for tenants or owners to entertain clients and friends.

Currently, only Singaporeans are allowed to own GCBs in Singapore.

(So you know someone has definitely made it in life if they live and own one here.)

However, exceptions are made to certain Singapore permanent residents if they proved they’ve made great economic contributions to Singapore.

Features of GCBs

The main point of GCBs is privacy.

Due to the sheer land mass alone, owners of GCBs won’t have to interact with any neighbours.

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To top it off, it’s a bonus for nature lovers as GCBs are often surrounded by greenery and scenic views.

Essentially, GCBs serve as private sanctuaries for their owners to live in their own bubble in Singapore.

On average, a GCB can contain up to eight bedrooms, 20 bathrooms, and a garage large enough to house 20 cars.

(Cars and rooms I can understand if you like to flex your wealth lah, but can you imagine the amount of cleaning required for 20 bathrooms?)

And of course, the GCBs will come with an elevator to navigate between different floors.

Famous Owners of GCBs in Singapore

Some owners of GCBs in Singapore include the founder of Dyson Sir James Dyson and TikTok CEO Chew Shou Zi.

In 2021, the CEO of Grab also bought a GCB located in Bin Tong Park for S$40 million.

(Nice to know where our money from fare surges are going yeah?)

But the most famous out of everyone is probably the Haidilao family who bought a GCB located in Botanic Gardens for S$42 million.

(All hail the power of the dancing noodle man.)

Welp, we all can dream to own a property like that.

Still, let me know again if you find a way to utilise 20 toilets in one go.