Expats still paying top dollar for historic bungalows
Sales of black-and-white bungalows, a type of good class bungalow (GCB), are few and far between given their limited number, reported The Wall Street Journal.
Designed after the mock-Tudor architectural style, these houses come with whitewashed exteriors that contrast with black-stained timber details. To make them more suitable for the tropics, they feature broad verandas, wide eaves and tall shutters for shade, as well as masonry piers to elevate the structure and alleviate humidity.
According to historian and academic Julian Davison, these homes combine the ‘Tudorbethan’ style of Victorian England and the colonial-bungalow style introduced in Singapore by the British Raj in India.
These properties are favoured by expatriates due to the luxurious lifestyle they offer and their large area, which start from about 2,000 sq ft for one-storey bungalows to around 8,500 sq ft to 11,000 sq ft for the more exclusive villas.
“They are the perfect answer for people looking for a bit of greenery and some space,” said Diana Chua, a Singapore guide.
However, sales are rare as only a few are privately owned, and these include most of the 100 black-and-white bungalows slated for conservation by the Urban Redevelopment Authority (URA).
The majority are currently being rented out by the Singapore government. Over 90 percent of the 500 units managed by the Singapore Land Authority (SLA) are leased as homes, while some are used for commercial purposes. JTC Corporation also oversees around 150 units at the Seletar and Buona Vista industrial parks.
In addition, rents of black-and-white bungalows declined from their peak in 2010 to 2012, following the introduction of property cooling measures. For instance, monthly rents for the 33 bungalows at Mount Pleasant range from $8,600 to $23,500, said Ascott Ltd, the property manager.
Picture Source: Black and white bungalows offer a luxurious lifestyle.
Source copied: http://www.propertyguru.com.sg/property-management-news/2016/3/119930/expats-still-paying-top-dollar-for-historic-bungalows
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