Good Class Bungalows (GCBs) are Singapore's most prestigious residential category — freestanding houses on ≥1,400 sqm plots within 39 gazetted GCB areas. Strict planning rules: 40% maximum site coverage, 2-storey + attic limit, and approval from SLA's Land Dealings Approval Unit for non-citizen buyers. Prices range S$20–100M+, with 39 areas mostly in District 10 (Bukit Timah, Holland) and District 11 (Newton, Novena). As of 2026, GCBs trade at S$1,500–S$2,500 per sqft of land area.
What qualifies as a GCB
| Criterion | Requirement |
|---|---|
| Site area | ≥1,400 sqm (~15,000 sqft) |
| Maximum site coverage | 40% of land |
| Maximum height | 2 storeys + attic |
| Location | Within 1 of 39 gazetted GCB areas |
| Ownership form | Freehold (most) or 999-year leasehold |
Source: URA Planning Rules.
39 GCB gazetted areas
The 39 GCB areas are mostly concentrated in:
- D10 Bukit Timah / Holland: Holland Park, Caldecott Hill, Cluny Park, Nassim Road, Bukit Tunggal, Belmont Park, Trevose
- D11 Newton / Novena: Eden Hill, Newton, Trevose, Watten Estate, White House Park
- D21 Bukit Timah West: Holland Park area extensions
- D9 Tanglin: Limited; specific gazetted plots
Each area has its own historical character and price discovery dynamics.
GCB pricing 2024-2026
| Year | Total transactions | Median land PSF | Median transacted value |
|---|---|---|---|
| 2024 | ~25-30 | S$1,800 | S$25-35M |
| 2025 | ~30-35 | S$1,950 | S$28-40M |
| 2026 (May YTD) | ~15 | S$2,000-2,200 | S$32-45M |
S$100M+ transactions occur 2-4 times per year, typically in Nassim Road, Cluny Park, and Holland Park.
Foreign buyer rules
Foreigners cannot directly purchase GCBs without prior approval from the Land Dealings Approval Unit (LDAU). LDAU approval criteria (typically requires PR or long-term residence):
- Minimum 5+ years residence in Singapore
- Demonstrated economic and social contribution
- Property purpose: owner-occupation (not pure investment)
- Property value: Typically S$5M+ properties favoured
Approval rate is approximately 30-40%. Processing time: 3-6 months. Source: SLA Land Dealings.
GCB buying process
- Search: Use specialist GCB agents — limited public listings; many off-market
- Due diligence: Site inspection, conservation status, planning approvals
- Negotiate: Typically 2-5% off asking
- OTP: 1% option fee; exercise within 14 days
- Mortgage: Bank loans available for GCBs; typically 50-70% LTV; private banking preferred
- Completion: 10-12 weeks; conveyancing + survey
GCB rental market
GCB rentals are sparse but premium. Typical 2026 rents:
- Smaller GCB (1,400-1,800 sqm): S$25,000–S$40,000/month
- Mid-size GCB (1,800-2,500 sqm): S$40,000–S$70,000/month
- Trophy GCB (3,000+ sqm): S$70,000–S$200,000/month
Gross yields: 0.8–1.5% — significantly below condo. Buyers are not yield-driven.
Ultra-luxury condos alternative
For buyers wanting ultra-luxury without GCB site-area requirements:
- Sentosa Cove penthouses: S$10-25M, foreigner-eligible
- D9 Orchard penthouses: S$15-50M, branded developments (Boulevard Vue, Marq, Reserve)
- D10 Holland Park condos: S$8-25M, large units in prestigious projects
FAQ
Can I sub-divide a GCB plot?
No — GCB plots must remain ≥1,400 sqm. Sub-division violates the gazetted area rules.
What's the property tax on a S$30M GCB?
Property tax depends on annual value (AV). At 4% (owner-occupied), a S$30M GCB with AV S$400k = S$16k annual property tax.
Are GCBs rising in price?
Yes — 2020-2025 GCB prices rose approximately 30%, comparable to broader luxury private market.
Can foreigners rent a GCB?
Yes — rental requires no LDAU approval, just standard tenancy rules.
How rare are GCB transactions?
Typically 25-40 per year — extremely thin market. Off-market deals dominate.