Following his S$73.8 million Wallich Residence penthouse purchase, the billionaire inventor’s real estate shopping spree in Singapore continues with a luxury bungalow in a pricey neighborhood.
After snapping up Singapore’s biggest and priciest penthouse earlier this month, billionaire James Dyson, the inventor of the bagless vacuum, has purchased his second property in the city-state – a Good Class Bungalow. (GCW)
Located on a hill along Cluny Road, the 1,400 square-meter property has unobstructed views of the UNESCO World Heritage-listed Singapore Botanic Gardens. It makes full use of the steeply sloped site and features a curved swimming pool, sculptural staircase, and a waterfall surrounded by lush plants.
Foreigners and permanent residents are barred from purchasing landed property in Singapore, though exceptions are made for those who have made exceptional economic contributions in Singapore. Still, Dyson would have to fork out an additional 15 percent buyers’ stamp duty on the purchase price that is estimated at S$41 million, as it is his second property here.
Dyson, 72, a vocal supporter of the U.K.’s decision to leave the European Union, said in January that he would move his company’s head office and research team from the U.K. to Singapore. However, he denied the move had anything to do with Brexit, saying that he wanted to be closer to the firm’s fastest-growing markets. Dyson plans to build the company’s first electric car in the city-state.