An Indonesian family has purchased three Good Class Bungalows (GCBs) on Nassim Road, Singapore’s most prestigious address, for a total of S$206.7 million ($155 million).
The bungalows are being sold individually to three members of the same family, but their identities have not been disclosed.
The sales reflect Singapore’s increasing attractiveness as a destination for affluent families worldwide.
However, Indonesian Finance Minister staff has raised concerns over the news, reminding the family to fulfil their tax obligation to their country.
In other news, the Ministry of Home Affairs refuted reports that the city-state is set to attract 3,500 wealthy individuals to become citizens this year.