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Spectacular Singapore Bungalows: Luxurious Living and Real Estate Trends in 2023

Bungalows, which are situated at the upper echelon of  real estate market, are commonly perceived as a symbol of affluence and are progressively being acquired by the affluent youth. As the preferred abode of the ‘crazy rich Asians’, bungalows have piqued the curiosity of many. What distinguishes a bungalow from a house? What is the price range of a bungalow? In this article, we aim to provide answers to these pressing inquiries and more. Kindly read on to discover further.

What defines a bungalow?

Originating during the colonial era, bungalows were initially designed as opulent residences for British officers, esteemed judges, and individuals of elevated social stature who could afford lavish accommodations. In contemporary times, a bungalow is identified as a stand-alone landed property, distinct from other housing estates, which contributes to its aura of exclusivity and privacy. This core distinction sets bungalows apart from standard HDB apartments, granting occupants the entire building for their personal use.

According to the Urban Development Authority (URA) guidelines, a bungalow must occupy a plot with a minimum size of 400 square meters and a minimum width of 10 meters, with site coverage not exceeding 50%.

Typically, Singaporean bungalows are modest in height, rarely exceeding two storeys, and often encompassed by a generous veranda. Some even boast lofts, attics, or basements.

Due to their exclusivity and substantial price tags, bungalows are commonly associated with the affluent, with prices ranging approximately from $2.3 million to an astonishing $78 million!

Singapore bungalow classes

Size (square metres)

Class 1

400-550

Class 2

550-700

Class 3

700-1000

Class 4

1000-1400

Usually Good Class Bungalows

>1400

It’s crucial not to conflate a regular bungalow with Good Class Bungalows (GCB), which can be considered the premium upgrade of traditional bungalows, offering a deluxe living experience.

What factors contribute to the popularity of bungalows?

Firstly, the privacy and exclusivity that bungalows provide to their owners is a significant attraction. The fact that they are not attached to any other estate or house means that individuals have the entire site to themselves. Given Singapore’s limited land space, the prospect of having an entire estate to oneself is highly appealing.

Additionally, the freedom to utilize the land as one pleases is another advantage. Since the bungalow and the entire property are self-owned, individuals have the liberty to expand with amenities and renovations as desired. Furthermore, the ample ground space available (bearing in mind that the bungalow itself can only cover a maximum of 50% of the land) is an added benefit for potential buyers who desire more space in our small island.

What are some well-known residential areas for bungalows in Singapore?

Bungalows in valuation of property Singapore  offer a distinct advantage as they can be constructed across all regions of the country, unlike other types of landed properties like terrace or semi-detached houses, which are subject to specific location constraints. Nonetheless, to assist you in your search, here are the top seven sought-after bungalow areas in Singapore.

Bungalow location

Average sale price

Sentosa

S$24,993,492

Bukit Timah

S$18,416,070

Changi

S$8,538,727

Bukit Panjang

S$8,251,290

Pasir Ris

S$7,252,980

Serangoon

S$8,261,351

Clementi

S$15,597,990

 

What is the typical cost of a bungalow?

Singapore’s luxury condominium price generally range in the millions, but they can vary significantly depending on several factors, such as the size of the plot, the location, and the available amenities. If you’re considering buying a bungalow, you can review recent bungalow transactions on the Urban Redevelopment Authority (URA) website to ensure you’re making a sound investment.

For a rough estimate, here are some relatively more affordable bungalows you can find online. Keep in mind that these figures are approximate, and prices may fluctuate.

Bungalow

Price

Details

Jalan Bingka

$2,300,000 ($321.59 psf)

7,152 sq ft land (single storey), Bukit Timah area, 31 years left on lease

The Medallion

$2,700,000 ($608.93 psf)

4,434 sq ft land, Braddell Road area, freehold cluster housing

Kew Heights

$2,950,000 ($667.12 psf)

4,422 sq ft land, Bedok area, 77 years left on lease

Mosella

$3,150,000 ($537.91 psf)

5,856 sq ft, Macpherson area, freehold cluster housing

1 Champions Way

$3,200,000 ($534.33 psf)

6,103 sq ft land, Woodlands area, 74 years left on lease

Mosella

$3,380,000 ($579.36 psf)

5,834 sq ft land, Macpherson area, freehold cluster housing

Matlock Residences

$3,380,000 ($614.09 psf)

5,504 sq ft, Macpherson area, freehold cluster housing

Dunsfold Residences

$3,600,000 ($627.51 psf)

5,737 sq ft land, Serangoon area, freehold cluster housing

Seletar Hills Estate (Jalan Bangau)

$3,620,000 ($715.42 psf)

5,060 sq ft land, Yio Chu Kang area, 73 years left on lease

Seletar Hills Estate (Begonia Lane)

$3,620,000 ($715.42 psf)

5,060 sq ft land, Yio Chu Kang area, 73 years left on lease

If you’re seeking a broader and more long-term perspective, we have prepared an article that analyzes the economic growth of various districts over the past five years in the context of landed properties. This comprehensive overview offers valuable insights into the overall trends. 

What are the key considerations when purchasing a bungalow in Singapore?

When contemplating the acquisition of landed property in Singapore, it’s essential to recognize the multitude of factors involved in the decision-making process. Whether you are a first-time buyer or someone new to the world of landed housing, our informative article is designed to guide you through the process, helping to demystify and simplify this important endeavor.

https://docs.google.com/document/d/1qLL9wB_coNHxUh_7a4id88njY4D8VzVBTuzjlU1C0og/edit?usp=sharing

Here, we bring to your attention additional regulations and restrictions that require careful consideration before finalizing your lease agreement.

Criteria for Eligibility for Citizenship

Only Singaporean citizens are eligible to purchase and own bungalows, a rule that extends to all types of landed housing. This restriction is primarily in place to prevent excessive speculation by foreigners, which could lead to a significant surge in property prices.

However, Singapore Permanent Residents have the option to apply to the Singapore Land Authority (SLA) for permission to purchase a bungalow. It’s essential to note that these applications are individually reviewed, and approval is not guaranteed upon submission.

In practice, the success of such applications often hinges on two key factors: the duration of your Permanent Resident status (typically a minimum of five years) and the extent of your exceptional economic contributions to Singapore. This assessment is typically based on the income you have subject to taxation in Singapore, which clarifies why notable non-Singaporeans like James Dyson and Robert Kuok’s daughter have been permitted to acquire landed property.

Converting Other Types of Landed Housing into Bungalows

If you’re interested in acquiring a terrace or semi-detached house with the intention of redeveloping it into a bungalow, it is possible, but several factors must be taken into consideration.

According to the Urban Redevelopment Authority (URA), a terrace or semi-detached house can be transformed into a bungalow if it meets the minimum bungalow plot size requirement of 400 square meters (or 4,305.56 square feet) and a plot width of 10 meters. In the case of semi-detached houses, the adjacent unit must also meet these specified plot size and width criteria to be eligible for redevelopment into a bungalow.

For terrace houses, the adjoining terrace must be spacious enough to become a corner terrace unit in the future, with a plot size of at least 200 square metres (or 2,152.78 square feet) and a plot width of 8 metres.

Additional Buyer's Stamp Duty (ABSD) Taxes

For those who have previously purchased properties, it’s essential to account for the Additional Buyer’s Stamp Duty (ABSD) taxes. ABSD rates faced criticism from second and third-home buyers due to significant increases, with rates climbing from 7% to 12% after the implementation of robust property cooling measures in 2018. Recent updates indicate that ABSD rates have risen to 17% following the full implementation of property cooling measures in 2021.

Even first-time buyers of landed properties are not exempt from ABSD, as they are required to pay it temporarily. The amount is typically refunded once the previous property is sold within a 6-month window

Need Further Information?

Ultimately, the decision to purchase a bungalow hinges on your specific preferences and needs. If you value spacious land, privacy, exclusivity, and premium amenities enough to justify the higher cost, we encourage you to explore the possibility of acquiring one. Please feel free to reach out to us at any time for further information and guidance on your potential purchase!

If you’re in search of information on luxury condominium prices in Singapore and contemplating a property purchase, reach out to Joshua Lim, the most Experienced Real Estate Agent specializing in the sale of luxury properties in Singapore.

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