|
Getting your Trinity Audio player ready...
|
The Singaporean landed residential property market slowed down in the second half of 2023, presenting a unique opportunity for savvy investors. With only eight deals recorded in the second half of 2023 and 17 GCBs sold for $406 million for the year, the market is ripe for those with enough investment power to buy one of the legacy estates. This temporary lull presents an opportunity to invest in grand mansions like those on Swettenham Road, one of Singapore’s richest areas.
Photo source: Googlemaps.com
For those waiting for the right moment to enter the market, now is the time to take advantage of the current conditions. The Good Class Bungalow (GCB) segment offers a chance to acquire exclusive properties at potentially more attractive prices. Investing in these exclusive properties could yield substantial long-term returns, with the GCB market set to rebound. With its rich history and prime location, Swettenham Road makes our list of one of the richest areas in Singapore.
Swettenham Road is located off Holland Road. It’s a hotspot for the elite and is part of the golden Peirce Road-Swettenham Road-Ridout Road triangle. Renowned as one of the country’s most exclusive streets, Swettenham Road is characterised by large plots of land and enormous high-end GCB estates.
As you stroll through the beautifully maintained gardens and tranquil surroundings of these majestic gated estates, you’ll be transported back in time to Singapore’s rich colonial past fused with contemporary mansions.
What truly sets Swettenham Road apart is its prime location. It’s close to the best restaurants in Dempsey Hill, the breathtaking Singapore Botanic Gardens, a UNESCO World Heritage Site, and the luxury shopping of Orchard Road. For those who demand the ultimate luxury and convenience, Swettenham Road offers a price tag reflecting its exclusivity and prestige.
With current average prices per square foot ranging from $2,194 to $3,029 for a Good Class Bungalow on Swettenham Road, this pricing significantly exceeds the national average of S$2,417 psf. Some properties here command tens of millions, a testament to the area’s prestige and making it the ultimate badge of honour for those who have attained this level of success in life.
Who lives on Swettenham Road
Beyond its grandiose residences, Swettenham Road is renowned for a veritable who’s who of Singapore’s elite. This exclusive neighbourhood is home to diverse affluent individuals, including property moguls, medical providers, plastic surgeons, and even influential political figures.
Notable neighbours on Swettenham Road include property tycoon Simon Cheong of SC Global Developments, acclaimed plastic surgeon Woffles Wu, and former Deputy Prime Minister Wong Kan Seng, currently serving as the Chairman of Ascendas-Singbridge.
- Simon Cheong bought his home in 2009 from Breadtalk founder George Quek for $29.2 million for a 33,000 sq ft plot.
- Viz Branz CEO Ben Chng bought his Sweetenham GCB for $48 million, or $2,893 psf.
- Heart surgeon the late Dr NK Yong and his wife called a double-storey Good Class Bungalow on Swettenham Road their home, occupying an expansive 16,000 sq ft freehold site. This distinguished GCB is now on the market, listed for $25.5 million.
Swettenham Road’s perfect blend of privacy, opulent homes, and high-profile residents has cemented Swettenham Road’s reputation as one of the richest streets in Singapore.
Guide to The Most Exclusive Streets in Singapore
Where to eat and shop
Surrounded by lush greenery and close to the vibrant Dempsey Hill lifestyle and entertainment zone, Swettenham Road is a prestigious residential street in the Holland Road area of Singapore that offers the ultimate luxury living experience. Here are some of the top recommendations for where to eat in this gastronomic haven:
Candlenut, the world’s first Peranakan restaurant to receive a Michelin star, is a must-visit for its exquisite and authentic Peranakan cuisine. This restaurant offers a unique blend of traditional flavours and modern twists, ensuring a memorable dining experience.
Photo courtesy of Candlenut in Dempsey Hill near Swettenham Road in Singapore.
Transitioning from Peranakan to a more fine casual vibe, Chop Suey Café, located in the heart of Dempsey Hill, is a popular spot for casual dining. Its relaxed atmosphere makes it an ideal spot for a quick bite or a leisurely meal.
Photo courtesy of Chop Suey in Dempsey Hill near Swettenham Road in Singapore.
For a sophisticated brunch experience, head to Siri House. With its elegant interior and alfresco terrace, this refined dining space is perfect for a special occasion or a relaxed gathering with friends.
If you’re craving a taste of South America, Canchita Peruvian Cuisine is the place to be. This restaurant boasts three dining areas, each inspired by different aspects of the Peruvian landscape.
Photo courtesy of Canchita Peruvian cuisine in Dempsey Hill, Singapore.
Finally, for an expansive gourmet retail experience, visit Culina in its beautifully restored colonial barrack. This speciality food emporium stocks an inspired range of ingredients and foodstuffs from around the world, including air-flown meats, farm and wild-caught fish, artisanal cheeses, and fine delicacies. The store also features a modern epicurean spin on the traditional marketplace, where shoppers can interact with residents, fine foods, meat specialists, and sommeliers for advice on the best cuts of meat, wine pairing, menu planning, and cooking tips.
These are just a few of the many dining and food options available in Dempsey Hill. Whether you’re in the mood for fine dining, casual eats, or international cuisine, this hilltop area has something for everyone.
Swettenham Road, District 10
Singapore Luxury Homes is renowned as the top 1% luxury real estate team and is acclaimed for a landmark property transaction of over $45 million for an Astrid Hill Good Class Bungalow. If you’re in the market to view some of the biggest luxury houses in Singapore, connect with our team.
