Inside The Most Expensive Neighborhoods of Singapore | Insider Business
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- čas přidán 25. 03. 2023
- Good Class Bungalows are the most prestigious and expensive homes in Singapore. GCBs even inspired homes in the movie "Crazy Rich Asians." Today, their prices are soaring as the island's ultrarich are fighting to get one. And there are all kinds of building rules owners have to follow once they get a GCB.
We tour two Good Class Bungalows with Julian Yip, managing director of Realstar Premier Group, and Billionaire's Row with CZcamsr Si Ling to see how these rising prices could affect the rest of the island's residents.
Check out more from Si Ling on her CZcams channel Red Potato Singapore: / redpotatosingapore
Thanks to JNA Real Estate for the footage: / @jnarealestate
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Inside The Most Expensive Neighborhoods of Singapore | Insider Business
“Im just an asian. i dont have the crazy and rich part” she’s so real for this
It's a movies reference from the crazy rich asian, a popular sg movie
Lies again? Jackal Wolf AIA Money
As an Asian.. I relate to this so much.. 😂
@@DylanDkoh it's a movie with reference to sg, but pretty sure it's not an SG movie. It's an American movie.
Are you serious 😊
If TV has taught me anything, it's that someone is going to die when that chandelier falls.
I can't understand anyone putting a chandelier over a bathtub.
@@gabbycarter965 So you can swing from the chandelier into the bathtub
@GABBY CARTER they probably don't bathe anyway. Just have body scrub & other treatments at spa
Ikr😂
I had the same thought🫣
I used to live on Nassim Road and being one of the few malays living on that road - the police stopped me on a few different occasions to check my ID to confirm that I actually lived on Nassim Road. Racism still present in Singapore.
Wtf thats racist af
Based police
ACAB
cap
It’s in every corner of this planet.
Long time ago my Sporean college buddy told me "in Singapore, if you say your family owns a house, that means they're really rich. Or probably old money."
You can have a Ferrari while still living in a government apartment.
True but no big deal..most homes in spore are very shitty..no class..no character..no design...waste of money
i think you need clarification on what kind of houses those are. they could still coin private condominiums and apartments and even flats as “ houses “. but of course some people prefer fast cars to large houses
@@d44347 probably mean landed property
Government property also over a million dollars now
Doubt it. You have to get a permit to even buy a car. And when you do, the taxes are obscene.
the problem with GCB's is that for the price, you get "very little". look at what places like Malibu, BH and Hollywood offer. GCB's are more of a status symbol and accolade than an actual luxury home. no GCB in Singapore has an actual "view" and the only reason why amenities are plentiful and convenient is because the country is small so everything in within reach very easily
even for big homes in Sentosa, the "scenery" if any at all is really not in the same class as what one may find in Newport Beach, Pacific Palisades, Hamptons, Sydney or Cote De Azure etc. let's be real, GCB's are a store of wealth to pass on to the next generation, not an actual home for "luxury living". visit them, compare and you'll unfortunately see the stark difference and lack of standards in comparison
why is it a problem lol. at least it aint a problem for those who actually bought it
Precisely
but Singapore is safe from all the issues of west, safe from drugs etc.
Pretty sure that's not a concern for the owners. They are not there for nice views or comfort, they are there for a luxury symbol. In fact, there are quite a few cases of rich people buying these private properties purely because they know its value will increase in the future... while they themselves live in public housing. Also, there has been an increase in foreign buyers in recent years---people who don't even live in Singapore.
@言行一致 Makes no sense Singapore is better compared to all those places.
It makes sense that the prices are ballooning up. Land there is like a rare, exotic delicacy.
It's what happens when the government monopolizes all the real-estate, the poor and upper-class will never own anything and only the most paid government officials and wealthy foreigners will own houses. I feel bad for the people of Singapore
Lies again? HDB Paris
@@massimobestpalylol As a singaporean I don't really care about owning land. My HDB is good enough.
@@massimobestpalylol That’s not quite true though. Most GCBs are owned by rich local businessmen. Not many foreigners own them and as Singapore isn’t corrupt, few government officials will reach that level of wealth too.
@@massimobestpalylol That's not really true, coming from a Singaporean..
Watching the most expensive homes in Singapore while sleep on the same ikea bed for the helpers at 9:03
youre a GCP ..good class peasant 😂
You can stay in the gcb too..just apply to be the cleaner of the gcb house..since you already accustomed to sleeping in the exact same ikea bed..😆
@@soothingmoments2139 I was actually planning to--assuming that clients pay generously
@@lunchplus 😆..have you watched the Oscar winning korean movie titled parasite?..😆
This is why more and more Singaporeans can only continue remain delusional while dreaming and struggle just to smell such houses or lifestyle. In the end, all they could afford is a small pigeon flat, take public transport and work very hard for whole lifetime to pay so much just for a basic need and living.
Its crazy how little your dollar goes in sg. I lived there from 2012-2015 as a kid and my family stayed at 3 different condominiums in our time there. The rent was ridiculous and I knew only one person who actually owned an apartment and if I recall, they spent nearly 2 million on a 2 bedroom groundfloor apartment. It was crazy
Price is crazy but people still buy it that’s the crazier part 😂
They buy it for various reasons...one of which is that the price usually goes up which makes it a good investment. Rich begets rich!
@@khenglim not reallly honestly. There are a lot of buyers for condos that lose money.
2mil in 2015 must be something like 4mil today already...
Hong Kong is so much nicer and more posh. This is nothing compared to mansions in HK
The only GCB we have in Malaysia is the item on MCD menu.
this was great - thank you!
Thanks for bringing the idea of wet vs dry kitchens to my attention. Very interesting
In Thailand, China, Vietnam also. Not new from Ching dynasty
but recently an article showed that an Indonesian bought 3 GCBs for over $200 m, so that means that citizenship is not a requirement to purchase one
He is a rare case, as his relatives are Singaporeans and PRs, and had made significant investment to the country. The requirements for foreigners to buy GCB is actually very stringent as the government do not want protected freehold land to be owned by "outsiders". He will also have to sell it back to a Singapore citizen.
I remember back when I was in Junior high, my parents never stay at hotel n always at their apartment n it wasn’t beautiful n I always complained that the room isn’t beautiful n right now I am grateful that nowadays, it’s very difficult to purchase property in SG, very expensive n luckily we managed get renovated
N n n n n
Architecture wise, these so called ‘expensive’ homes are just large homes that looked outdated. U can tell the owner build this some time ago, because house that looks like this with that price is just not worth it.
This is singapore. Everything here is not worth it.
I disagree
The whole of Singapore is basically an expensive neighbourhood. All the prices of the HDB flats cost like luxurious mansions and penthouses!
If the owners of these GCBs are actually living in them for most of the year, Singapore has one up on many Western countries where uber-rich Asians have bought mansions purely as investments. Suburbs like Potts Point in Sydney have reached the ridiculous stage we normally associate with Bel Air or Manhattan - words like 'prestige' matter far more than the objective value of the property.
Potts point has extremely high density, very few empty properties
Small country. There's reason why most developed countries have under 50 millions citizens. And Singapore have less than 10 millions citizens.
The price of Singapore GCBs can double or even triple in price, but there is no effect on the rest of Singaporeans. Its like asking the price of private jets or super yachts increasing by 50% and the effects in the average Singaporeans.
Incredible ❤
One of my friend overseas once told me roads are paved with gold on Nassim road…yes I did look at pavement when passing by
Rising prices in Singapore seems to defy the global trend however it is for very good reasons. Small island with high ownership % and most people stay in the houses they own. Of course there are other factors but it does stand out as a unique example compared to US and EU. As for GCBs, it largely doesn't matter to most Singaporeans :)
It's true that Singapore's real estate market operates differently compared to other parts of the world
Imagine 0.5% owns a GCB. Record payment is $170M for that small piece of PRIVATE land in Singapore and also have restrictions to the land. At that point, the government is their friend, they have shares and control in top companies
Why are prices increasing? Their answer, because more people want GCB but apparently no one wants to question the price, they leave it to those suffering financially to complain while the rich have a shelter, an expensive one and untouchable.
@@MAJL-jz9ee most people live in government subsidied public housing in Singapore, homelessness isn't an issue.
Dirt cheap for them.. peanuts 🥜 $$$
Similar to South Africa, high price house areas have a lot of tall trees for privacy and exclusivity.
Yeah man. I was born in SA now working in Singapore. Similar in nature but totally different level out here. South Africa’s inequality is something else though. I pray SA’s government can change but it’s getting sad now.
@@thebishanmethod Thanks for the prayers 🙏. Hopefully things get better for the future generations.
Africa 💀
Did you really compared AfRiCa to Singapore
The high rate of home ownership and the limited land availability on the small island contribute to the unique dynamics of the housing market
For the last house it just goes to show that even if you're rich it doesn't mean you have a good taste in style
these are old houses, people buy them for massive renovation or a whole rebuild
It’s just a dated design, probably from the 90s or 2000s
Visit a friend staying in sg. Even the rich ones living in a shoe box size flats. Sad, but at least they got to travel mostly in asia and stays in a villa for maybe 2 weeks a year.
Massive house, the employee's room is a tiny nook stacked with bunk beds.
they deserve better..
@@fidelcatsro6948 No. No. No. Enough. Singaporeans are superior to all others and we are the ones to deserve better.
F egalitarianism, F the workers, F the maids. We will reap what we sow.
And the employee is staying in the house longer than the owners in a day.
@@Aeybiseediythan the owners in a month, probably
One way to gauge a rich Asian's personality is to check what their staff living quarters are like.
Just passing my time with these things until Crazy Rich Asians 2 comes out...
It is very expensive because of designated exclusivity under Singapore law. Like what they did with car ownership.
When you invest, you're buying a day you don't have to work
Assets that can make you rich
Bitcoin
Stocks
Real estate
@@chrispaul3778You're right, it's obvious a lot of people remain poor due to ignorance, it's better to take risks and make sacrifices than to remain poor
@@leahmolly9150It's not ignorance but due to some unprofessional broker in the market
Now is the best time to purchase and invest in Bitcoin, stop procrastinating!!
I recently got into forex trading and im already marveling over the profits I'm making, I'm like " how the hell have i been sleeping on this
the gray car at 0:40 is a Lamborghini Reventon, EXTREMELY rare and fetch for millions of dollars.
1/20 reventon roadster 2 in singapore
When the attic is bigger than your house lol
The junior bedroom in the early video is the size of a hdb..😅
Awesome, great, suitable match home
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to build generational wealth and cultivate financial knowledge, you must be in the market......
I agree with you and I believe that Professionals are currently dominating the market since they have access to both the necessary strategy for making money in this industry.
That's awesome to hear. I invested 5k in Robin hood about a year ago and it steadily went down, now my portfolio is down to $800. I don't know what to do and i am in between jobs..
@@Florencecoxx Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances.
I’m Glad i stumbled on this. Please, if its not too much of a hassle for you, can you drop the details of the expertise that assisted you and how to get in touch with him.?
@@Florencecoxx I get guidance from *Mr Gary Mason Brooks* . Most likely, the internet should have his basic info..
Beautiful 😍😍😍😍.
naaaah with that kinda money i can buy a castle in a 3rd world country with my own militia to guard it with 10guard dogs and 3cows and 15hectares of farmland and 20cats in my backyard
GCB is like the frontrunner of NFT's
If I had that kind of FU money I rather live in a penthouse with a beautiful view and pool than a GCB.
But it doesn't matter because even if I worked every day non stop 24/7 till the day I die, all I can afford is HDB. The divide between the rich and poor in Singapore has really widen over the last few decades.
It's depressing to come to the realization there is no upward mobility, no matter how hard you try, life is cruel so why bother.
Wow, good apartment
the 2 best rules are that they have restrictions on making house only 2 story height and having house not touch its boundaries. i want these in my country its so dumb infrastructure here .
Those homes look so basic and dated compared to Australian properties. Those prices are insane
Just me living my small fry days in my 3-room while the wealthy and powerful are lording it out✌
The only GCB i had was from MCD
Hong Kong has a better tax system than Singapore's but Hong Kong is hamstrung by China's constant messing around with its laws. This has scared a lot of people out of the city unfortunately.
You guys should do house in Palo Alto(silicon valley)
“Look at the Ferrari!” Whilst pointing at an aventador
It's a reventon not an Aventador
@@timduncan9696 I think you are correct! Looks like it might even be a reventon roadster but I could be wrong again
Most foreigners like rich Indonesian chinese from China n american n Australian are buying properties there that boost the prices up naturally average singaporean couldnt afford it..its happening here in Australia too..
wow, the 'helpers'' room next to the kitchen is so shabby and sad
As a Singaporean, is not worth owning a GCB that is as much as 10 5 room hdb flats, plus you have to pay for all the maintenance just to have privacy at your swimming pool and outside barbeque.
Public housing don't make good investments. Govt makes sure of that. I'd probably go for condos like most Singaporeans do for investment. AS for the ultra rich, the gcbs are probably inheritance to pass down to generations after. Hdb are just "leases" with expiry after 99 years.
Good example of just because you’re rich, doesn’t mean you have good taste.
never clicked this fast in my life 😂😂
in kuala lumpur you only need $2mil to get a big ass bungalow at a super prime location
Chandelier above the bath tub is perfect for Agent 47.
that bathroom chandelier is 150 USD have one o those
Thnx for showing me , where i stand .
I love Singaporeans' sense of humor.
"crazy asian, no rich" 😂😂😂
Manifesting buying & owning one of Nassim road GCBs with hard cash. 🤞🏼
It looks like there is a royal privileged real estate owner class in Singapore that managed to have gotten away with government land grant!
How did that even get started?
So it is great that the Singapore government is attracting a lot of rich people to the country. I would like to knkw how that benefits the poor and working class Singaporeans.
Alright. I better pick up some extra shifts.
Impressive
then there are resale HDB that starts to sell at 1mil per unit/ buying a bto that cost 400k and above with such small living area
Really not making any sense at all hdb can shoot until 1mil per unit . Really crazy , cannot imagine in few years time our kids how much is the hdb price. Make sg citizen die faster better if like that. All increase but salary wise keep on maintain . But foreign their pay wise more higher than most of us citizen here.
why does the house in 8.58 have lanterns all over inside the house? I saw Chinese movies and they are always outside.
The only GCB that I can afford is the one in McDonalds (Grilled Chicken Burger)
Nice
Live close to Ridley Park and I can honestly state that most of the GCB in this area incredibly dull and vulgar. #2 Ridley Park is perhaps the worst and clearly the owner has more money than taste. It looks like a cross between an out of town retail park and an office. On the road I live on pretty much 80% of the houses have been purchased and knocked down and generic post modern block that fills the plot. Of course they fare even worse when you compare them to the wonderful blank and whites found in the area..
As if Tommy Goh would care shit about what you think about him and his “taste”. He was someone who built his company from scratch and was wise to sell it to an American company at the peak. He deserves everything he’s got!
You’re just jealous because you’re not successful like him!
* me trying to spot Jamie Chua’s previous home *
There's a massive market for tasteful interior designers for these homes. Always has been.
who's home is that at 0:40? it's really interestingly designed
Tommy Goh! Guy has a f1 simulator inside also, his house is MASSIVE has to be the biggest private home in Singapore I think, it's country club sized
Am I the only one don’t fancy material stuff? All I want a tiny house with my love one .
Me too, I love my simple home.
Agreed
This is damn expensive😮Come to Uganda with some few dollars and get yourself a large piece of land where you can build a house and grow your food.
Just make home in neighbouring country. Such as Indonesia in Batam or Malaysia in Johor
N follow with the rule .not just build a house
Even if I would be rich, no way I want to buy a house (sorry...bungalow) when I can see in my neighbours bedroom and almost shake hands.
Why wouldn't you if the value of your home nearly doubles in 2-5 years? If you don't want to live there, just buy the house and rent it out. Few investments are as certain to yield massive profits as Singapore real estate.
@@wielyrucs5366 So it just for investment and prestige then, not really for a home
@@NurmaBP It is both a nice house and a good investment. Choose for yourself if you want to keep it as purely an investment or one that you are gonna stay in while waiting for its value to rise. But passing the opportunity to purchase this when you got the money is foolish. Unless you have something else to invest in; that has a even higher growth rate and is just as certain to yield profits.
@@NurmaBP I mean if you think about it, nobody in SG really has a home they can live in for long. HDBs are only theirs for 90 years and the rich treat theirs as an investment. Very rarely is there anyone really planning to stay in a property for generations
watching from my old hdb room with peeling paint
where in the world are property prices falling??
I wonder how Su Ling feels being subtitled in the video 🤣
9:18 no, his wife is Singaporean and the property is held under her name.
Good
Singaporean here. 🙋🏻♂️
hdb peasants we are..😆
@@fidelcatsro6948 Condo Peasant here
@@nasi364 😆😆😆
@@fidelcatsro6948 Terrace House peasant here
@@orchid6699 naaah you not qualified as peasant status...now go back to your office and do the desk work..
some got 4 lane bowling alley too.
This is so true. The younger Singaporean should be afraid of higher price of these houses. Because it is the reflection of housing or houses property market right now. The younger Singaporean might not be able to rent a home in the future.
Regular Singaporean live in apartment. Good way to ensure regular people have place to live.
I’m a doctor, but I just rent a room 😂😂😂😂😂
the house is damn HUGE but the maids room is still smaller than a closet bruh what
Beautiful homes but they are way too small to be so expensive
Land scarcity🤯
right, for that amount you could have built a mall in my country
Location location location
I have not the slightest desire for living in such a monstrous, redundant property, even if I were a billionaire.
there was one guy who paid 200k for 1 month of rent at a gcb 💀
6:13 is this Jamie Chua's old house 🤔
thankfully it doesn't impact the ordinary citizens as the government owns 90% of the land and have a awesome public housing scheme (not like HK, where the government owns the land but relies on it as its main cash cow, leasing it for impossible prices), it's probably the only wealthy city in the world where ordinary people can easily afford housing.
It's the way to go really, give the insanely rich their little playground so that they don't throw a tantrum, give them tax incentives so that they do business on the island but heavily tax the luxuries they enjoy (like cars), meanwhile limit the impact on the general population.
Singapore HDB is literal genius, there are other things I'm not a big fan of when it comes to SG governement but this is undeniable
HDB is a good concept and has shown to be one of the best things the gov has done but they really need to get a hold of rising costs. Soon, we will enter territory where all HDBs will cost at least 1 mil and clearly, demolishing loved malls and soon, Turf City, is not the solution as costs keep rising
The only way to alleviate that would be to build more.
Either land reclamation or more high rises.
Honestly, 1M SGD woukd still be very reasonable for a 5 rooms appartment in a major world city, it would still be under 10X median household income!!! Compare that to Paris where a similar appartment would cost litteraly 50X median household income (meaning only the wealthy and high income households can buy appartmentd in Paris)
@@louisazraels7072 Not saying that we need to be a cheap city to live in or anything. I agree that naturally, due to population and land size, housing costs will be high, but 1 mil is actually not a manageable sum for quite a decent chunk of our population, especially since the purpose of HDB was to provide affordable housing for all! Building more has not proven to lower housing costs, they are building more and more HDB blocks everywhere but the cost is still going up
@@e8943 well 1M would only be for 5 rooms flat, and we're still a long way away from that anyways.
Building more HDB and faster is the main way to keep prices low, the faster and the more are delivered at discounted prices the better itll keep the resale prices from rising.
@@louisazraels7072 Building more HDBs is not the solution. The new HDB flats are being made for “new” residents, not for the benefit of existing Singaporeans. If they really wanted to help Singaporeans, the solution is reducing the ceiling, back to the original, for buying flats and preventing people from owning more property than 1 HDB if they buy one. The rich who have enough money to buy more than 1 apartment/landed and own a Mercedes, should not be allowed to buy a HDB flat. That is how we make HDBs affordable for ALL. Property prices are rising faster than you believe and really needs to be acted on quicker with a different approach from building and building. Singapore cannot be compared to other cities like NY as NY is a city in a big country with many states. It is much easier for people who cannot afford to live in NY, to leave the city and move to other states and cities that are more affordable. On the other hand, in Singapore, if one cannot afford to buy housing here, it is much harder to move from one country to another just to get housing. Whilst I’m not saying that Singapore needs to be a cheap city (as I understand the reasons for a much higher than average cost of living), just across the border, just looking at rent, let alone property for sale, for S$3500, one can rent a 4200sqft semi-d whilst in SG, there are the biggest property you can rent is a 1500sqft HDB (which is already hard to find). A large gap is understandable given many factors but this is too wide of a gap
My friend owns one of them. Her house used to be THE most expensive house in Singapore.
🧢
🎩
👑
Can I get her number please :////
Why all Singaporeans always call cap on stuff?
Just cos you guys are weak and incapable and can't achieve anything doesn't mean others can't 😅
I prefer Eleanor Young's humble abode on "Crazy Rich Asians."
That’s in Malaysia
I am not sure what you mean by "Global housing prices are slumming". Prices in Poland and in Krakow especially are still pretty much climbing and heavy at that. So is in UK :
Average UK house prices increased by 1.7% in the 12 months to June 2023 (provisional estimate), down from a revised 1.8% in May 2023. The average UK house price was £288,000 in June 2023, which is £5,000 higher than 12 months ago, but £5,000 below the recent peak in November 2022
Not sure why that statement was made.
How easy to get a Singapore citizenship so I can buy one of those homes for me looking for high end luxury GCP ones
not easy
Should be easy with the amount of wealth you have.
@@extremepacifist8719 i can tell you that not everyone in Singapore is like in this video. this is a tiny percentage of the population
* sees Aventador "wow look at the Ferrari"
It's a reventon
Actually that house is full of Ferraris and there is only 1 Lambo that I know of which is that in the video. So it is possible she eas talking about the Ferraris behind it that the camera did not catch
Considering how expensive they are, a lot of the houses in the video look kind of gaudy and tacky. 土豪, as they say in China.
What's the point of a huge house like that if you have neighbors on all sides within earshot?
Wet kitchen for cooking food. Dry kitchen for looking at 😂
this is when i wish my father was an oil tycoon.
Most private properties are also now 99 years leasehold so it can't be passed down to generations like the government housing flats.
Those are private land not government land
The PAP ministers can all afford these houses while some average Singaporeans can't afford a HDB.
Just an FYI. A brand new Prius in Singapore will run you about $190,000. and that's the fact. So just imagine people who owns Lambo and Ferrari there. Makes you think huh?
Once i achieve in my experiments to turn sand into gold nuggets i will buy these homes...
Turn them into Silicon, then can sell to Taiwan
@@orchid6699 i need to find worms that eat bacteria and then poops little gold nuggets..
It's not even that big WTF. You'll get half of Paris for 170M and a quarter of Dubai.
land scarce... I'm sure people wish they wouldn't even have to pay this much for that. if you compare it to the mansions in US, for the price you're paying this is pathetic. and the fact that it can only go up to two stories (less basement and carpark) means you won't see any atop a beautiful hill or some shit like that
Not everyone wants to move to that parts of the world. Asians want to stay close to home where their favourite food and culture is, especially when they get older.
Whenever I visit my relatives, they will always ask when are you moving back here? I m like, well..I am settling in the west. They're like, yeah but it is not home! 😂
@@BM-zd3vs I get you, I'm leaving the West this year to get a little closer to home (Arab World). But really, they could get a skyscraper in Bangkok for 170M $ or a massive penthouse in Hong-Kong.
Girl says I am not rich while she casually rolls out of a vellfire.