Rent-Seeking FAP Traitors Charge $600k PA for Colonial Bungalows

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An honorable member of the Coffee Shop Has Just Posted the Following:

No takers for some colonial bungalows in S'pore

Some of Singapore's iconic black and white bungalows continue to stay vacant, as the authorities find it difficult to attract residential tenants.

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A colonial bungalow in Singapore.

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SINGAPORE: Some of Singapore's iconic black and white bungalows continue to stay vacant, as the authorities find it difficult to attract residential tenants.

House number 7 along Gallop Road has been launched three times for bidding, but in the last six months, there haven't been any takers.

The 106-year-old house was built during the colonial era, and its monthly rental is more than S$50,000.

The “Atbara House” next door -- which used to house the French Embassy -- is going at S$43,000 per month and faces the same problem.

Chris Koh, director of Chris International, said: “There must be someone willing to pay. We're talking about a premium because of (the size and location) of the sites - that could be one. Number two is there's a lot of upkeeping of the place."

Ku Swee Yong, CEO of Century 21 Singapore, said: "If we rent these out to private companies for marketing events, or as corporate training centres, then we could see more bids."

There are about 500 of these bungalows in Singapore, located in central areas like Nassim Road, Goodwood Hill and Bukit Timah, as well as in areas further from the city, like Alexandra Park, Sembawang and Seletar.

=> Or potentially $300M in revenue for the traitors!

They are all state-managed, and to date, 90 per cent are used for residential purposes.
A small proportion has been rented out to F&B outlets.


- CNA/xq/ac


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