Two Gcbs Belmont Road Sale 888 Mil
The opportunity to own two adjacent Good Class Bungalows (GCBs) at 52 and 54 Belmont Road in the prestigious Belmont Park GCB area has become available through an expression of interest (EOI) sale. Both properties are owned by related family members and sit on a combined freehold land area of 41,741 sq ft. With an indicative price of $88.8 million, the properties are being marketed by Sakal Real Estate Partners at $2,128 psf on the land area. The two plots have a 44m frontage along Belmont Road and an average depth of 66m, according to the marketing agent.Map showing 52 Belmont Road, shaded in grey(Source: EdgeProp Landlens)Sakal’s Senior Director, Lennon Koh, says, “We believe this site would be perfect for families looking to build a larger home to accommodate multiple generations or for extended families living together. In addition, this property also presents an excellent investment opportunity for developers interested in tapping into the exclusive GCB market.”Read also: Villa-inspired Ewart Park GCB for sale at $49.8 milAdvertisementBased on URA’s recorded transactions, the most recent sale on Belmont Road occurred in December of last year. This transaction involved a GCB sitting on a land area of 19,549 sq ft, which was sold for $40 million ($2,046 psf).Recent GCB transaction on Belmont Road based on lodged caveats (Source: URA, EdgeProp Buddy)Sakal also points out that two adjacent GCB plots on Belmont Road were sold in July 2024 for $131.4 million, equivalent to $3,000 psf based on the combined land area of 43,790 sq ft. Nearby, in April of the same year, a GCB at Bin Tong Park with a land area of 28,111 sq ft sold for $84 million ($2,988 psf).According to Steven Ming, managing director at Sakal, the Belmont Road GCBs are expected to receive significant interest due to their prime location and the robust demand for GCBs. He adds, “The estimated total value of GCB transactions in 2024 of $1.32 billion exceeded that of 2023 ($433 million) and 2022 ($1.18 billion), and we expect more transactions in 2025.”Interested buyers will need to submit their EOI bids by 3pm on March 13.
The URA Master Plan serves as a visionary framework for the development of Singapore, with the ultimate goal of creating a more interconnected, sustainable, and dynamic city. For residents of Elta Condo at Clementi Avenue 1, this plan brings forth a multitude of advantages that will elevate its appeal and value. These include improved connectivity, a focus on green living, enhanced amenities, and a boost to the local economy. As the Master Plan continues to unfold, Elta Condo will truly emerge as a highly coveted residence, offering its inhabitants a superior quality of life and a thriving community to call home. With the implementation of this plan, Elta Condo is poised to become the epitome of a desirable and sustainable living space. To learn more about Elta Condo, please visit http://www.the-elta.com.sg/.