Oei Tiong Ham Park GCB Sold for S$31.3 Million at 27% Below Guide Price
A freehold Good Class Bungalow in the Oei Tiong Ham Park enclave has been sold for S$31.3 million, or about S$2,089 per square foot, on a land area of about 14,982 sq ft. The price is about 27 per cent below the guide price of S$42.8 million when the site was marketed in March 2025.
Sale Price
Land Rate
Land Area
Below Guide Price
Prime GCB Enclave Transacts at Discount
The freehold Good Class Bungalow property at 5 Jalan Sampurna, close to Holland Road, was exclusively marketed by Savills Singapore. The plot currently houses an approximately 10,000 sq ft bungalow built in the 1980s.
Savills said the site attracted “strong interest from discerning buyers,” adding that “despite a more selective luxury property market in 2026, demand for prime GCB assets remains resilient, underpinned by the scarcity of such GCB redevelopment plots and continued interest from ultra-high-net-worth individuals.”
Nick Chan, associate director of investment sales and capital markets at Savills Singapore, noted that GCBs remain one of Singapore’s most coveted residential asset class, given their scarcity, prestige and long-term wealth preservation attributes.
Pricing Reflects a More Selective Market
The S$31.3 million price tag is about 27 per cent below the guide price of S$42.8 million when the site was marketed in March 2025, reflecting the more selective conditions in the luxury property segment.
Alan Cheong, executive director of research and consultancy at Savills Singapore, pointed out: “Although the number of GCB transactions has apparently been low, this deal shows that for properties located in the better GCB areas, demand is still evident if the pricing is right.”
Recent GCB Transactions
In July this year, The Business Times reported that a bungalow in the Cluny Park GCB area is back on the market with an indicative price of S$98.8 million, or S$3,313 psf on the land area of 29,818 sq ft.
Prior to that, entrepreneur and philanthropist Shiv Puri was reported to have purchased a bungalow in a quiet area of Nassim Road for S$64.9 million, or nearly S$4,550 psf on the freehold land area of 14,264 sq ft.
In March, former Sincere Watch boss Tay Liam Wee sold his 23,922 sq ft vacant GCB site in Nassim Road for S$92 million, or S$3,846 psf.
Frequently Asked Questions
Where is the GCB located and what is on the site?
The freehold Good Class Bungalow is located at 5 Jalan Sampurna in the Oei Tiong Ham Park enclave, close to Holland Road. It currently houses an approximately 10,000 sq ft bungalow built in the 1980s on a land area of about 14,982 sq ft.
Why was it sold below the guide price?
The S$31.3 million sale price is about 27 per cent below the S$42.8 million guide price set in March 2025, reflecting more selective conditions in the luxury property market in 2026. However, Savills noted that demand for prime GCB assets remains resilient when pricing is right.
How does this compare to other recent GCB deals?
At S$2,089 psf, this transaction is at the lower end of recent GCB deals. A Nassim Road GCB sold for S$3,846 psf in March, while another Nassim Road purchase was reported at nearly S$4,550 psf. A Cluny Park GCB is currently listed at S$3,313 psf.
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