Imagine an exclusive neighborhood with tree lined streets, manicured gardens, roomy backyards and the privacy of having four walls to yourself. All these come with purchasing your own Singapore bungalow.
Everybody knows that land is dear in the land-limited town state. Most other residents, visitors, expats have to live in residences, flats and condos. Living in a bungalow in Singapore exudes a certain luxury considering that there are roughly only around one thousand good class bungalows located all around Singapore.
Aside from exclusivity, purchasing a Singapore bungalow is a excellent long-term investment. House sales have fared well even during hard financial times compared to other housing projects and property values. Over time, very good fiscal gains have been reported by bungalow owners who have decided to sell their properties.
Owners of Singapore bungalows are also enjoying the plot of land that incorporates their properties. Good class bungalows should have a minimum plot of 1,400 sqm. This gives owners and their families lots of room to play and run around with. Another restriction for bungalow owners is that there must be an adequate quantity of grass and greenery round the property. This stipulation is to stick to environmental laws that aim to preserve the ambiance of healthy living amid Singapore's urban jungle.
In addition to this, bungalows are either single storey houses or two storey homes. The height restriction is again to preserve the low-rise and home feel of bungalow areas.
One of the benefits of purchasing and owning a house is that it gives the owners lots of room for future extensions. Houses can be simply remodeled and renovated thanks to the giant space available to owners. Extensions can either be a new wing or a new floor or maybe a swimming pool. Due to the lot size allotted to bungalows, a garden is also an excellent idea. Improved and maintained bungalows can easily fetch higher resale values, another inducement for bungalow owners to care for their properties.
Singapore law states that only citizens can own landed property, including bungalows in the city-state. But there are a large amount of bungalow owners who lease and rent out their properties to foreigners, firms, expats, companies and even fellow citizens. This is another virtue of purchasing and owning bungalows as it is one of the more sought after properties for renting , making it a potential profit generating venture for its owner. Indeed, the present rental on bungalows round the city-state averages in the five figure class.
Few of these protected areas exist in Singapore today. Only about 39 designated areas for Good Class Bungalows or GCBs have been appointed by the govt. as protected areas for these sorts of housing developments. These areas are Nassim Road, Belmont Park, Cluny Hill and Raffles Park, to cite a couple.
There are around 2,500 GCBs around the Singapore and of the many millions of Singaporeans only about one thousand citizens own bungalows in these appointed areas. The Singapore govt has no plans in the future to add to these exclusive areas, further raising the value on the present bungalows around the city-state.
For people who do not live or have not been to Singapore, they might ask what the fuss is all about Singapore bungalows. In a country where land is a commodity, owning ahouse does not only scream wealth, it also announces luxury. A Singapore bungalow isa scarce luxury, so if you chance to own one, consider yourself one of the fortunate few who have made it in life.
