James Dyson surprises us again, but maybe not with another of the brilliant inventions. Two weeks after news broke of Sir Dyson’s buy of the greatest and most expensive penthouse in Singapore, the billionaire is well prepared to snap another luxury house. What would better his previous buy?
The 1,402.7 square metre freehold bungalow also includes an infinity pool, indoor waterfall and cantilevered spiral stairway.
View location of Leedon Green at Holland.
Thinking about the British inventor $73.8 million penthouse buy a mere two weeks before, that is now more cash spent on land than several banks have in vaults.
What’s a GCB?
All these are really luxurious and massive homes that the majority of us can’t even dream of affording. GCBs will need to be 1,400 square metres in size and can not be greater than two storeys. But they’re limited to occupying a max of 35 percent of the plot region to make sure sufficient greenery between.
GCBs are favoured one of the wealthy, due to their lack value. There are just 39 properties designated as GCBs from land-scarce Singapore, which makes it a solid investment for people who are able to afford it. But just having money is not enough…
How can Dyson secure his lavish crib?
Foreigners seeking to buy properties GCBs should have made”outstanding financial contributions to Singapore’s market”, based a government mandate enforced in 2012. However, while Sir Dyson surely participates in that respect, he also was able to procure a Permanent Residency (PR) at Singapore.
Nonetheless, this is his next property, and he will need to pay a 15 percent Added Buyers Stamp Duty (ABSD) on the land ($6.75 million).
Is that a fantastic purchase?
In spite of all the ABSD, the shortage of GCBs makes them great investments. They will probably hold value, since there’s no real space to build a lot of these. Additionally, the prestige attached to those properties keeps a strong basic requirement for them. In spite of an additional taxation of 6.75 million, we still would not be shocked if it sells for a gain in a short time.