One of Singapore’s most luxurious properties is back on the market with a price tag of S$308 million (US$236 million), making it the most expensive home for sale in the city. The mansion is located on Nassim Road, known for its exclusive “good class bungalows” (GCBs), which are Singapore’s largest and most sought-after residential properties.
According to Bloomberg, the home is owned by Cheong Pin Chuan and his wife, co-CEO of Hong Fok Corp, a well-known property investment firm. Spread over 58,000 square feet, the estate features a large house and spacious garden.
What makes this mansion special is its conservation status, meaning the house must be preserved as it is. This can appeal to buyers who value history and traditional architecture.
However, this is not the first time the home has been listed. It was on sale in 2019 for S$175 million and again in 2022, but neither attempt attracted a buyer. With Singapore’s luxury property market seeing renewed interest, the hope is that this third attempt will succeed.
Room for Development Adds Appeal
Aside from its charm and history, the property also offers development opportunities. The front garden is big enough to be divided into two additional plots, where new homes can be built.
This makes it appealing not just for homeowners, but for investors interested in future projects.
However, because of its conservation status, there are strict rules on how much can be changed. This means any new owner would need to carefully balance maintaining the original structure while possibly developing the land.
Luxury Market Grows, But Big Sales Are Still a Challenge
Despite the mansion’s many attractive features, the high-end property market in Singapore has been cautious in recent years. According to The Business Times, while interest in luxury homes is growing, many buyers are still cautious about high-priced properties.
Earlier this year, a mansion sold for S$4 million less than its asking price, showing that big sales can be challenging in today’s market. The mansion’s location on Nassim Road, a prestigious address close to Singapore’s premier shopping district, could make it especially appealing to wealthy international buyers.
Additionally, the mansion is being marketed by Realstar Premier Group Pte.
Will the Third Attempt Be Successful?
This is the third time the Nassim Road mansion has been put on the market, and hopes are high that it will break Singapore’s property price records this time.
Whether the Nassim Road mansion can finally sell at its US$236 million price remains to be seen, but its unique features and prime location make it an exciting opportunity.
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