A single-storey bungalow on a sprawling site in Queen Astrid Park was sold for $44.5 million in July. The 35,011 sq ft site, big enough to be divided into two smaller good class bungalow (GCB) plots, was reportedly bought by a family member of Mr Goh Hup Jin, son of billionaire paint tycoon Goh Cheng Liang.
Mr Goh Cheng Liang is the second-wealthiest person in Singapore this year, according to Forbes magazine. He is the founder of Nippon Paint South-east Asia Group.
Yun Nam Hair Care boss Andy Chua reportedly snapped up this GCB in Brizay Park off Old Holland Road for $33 million.
Mr Chua has made headlines with his purchases of several luxury properties in recent years. Last year, he picked up a duplex penthouse at St Regis Residences in Tanglin Road for $12.2 million, at a whopping $15.8 million loss to the seller, who had paid $28 million for the unit in 2007.
He was also the Singaporean who paid US$2.2 million (S$3 million) to have a private lunch with American investment guru Warren Buffett in 2014.
Mr Yeah Hiang Nam, chief executive of listed pawnshop ValueMax Group, lodged a caveat to buy this Katong bungalow, which sits on a land area of 2,453 sq m. He reportedly bought the bungalow for his own use.
Mr Yeah bought the freehold home for $30 million from two directors of several marine services firms that are in receivership. The sum he paid is the highest in terms of absolute amount for a house in Wilkinson Road.
The Straits Times
Source: SRX (22 Dec 2016)
The Straits Times