Bungalow market keeping up with last year's momentum

Singapore

THE bungalow market in Singapore is humming along nicely, with transactions likely to equal if not surpass 2016's volume.

Based on CBRE Research's analysis of caveats data, 23 transactions have been made in Good Class Bungalow Areas totalling S$480.6 million so far this year.

BT understands that options have been granted for a few more bungalows, although they have yet to be exercised.

In 2016, 37 bungalows in GCB Areas changed hands for a total of S$788.5 million.

Bungalows in GCB Areas are the most prestigious form of landed housing in Singapore with strict planning conditions laid out by the Urban Redevelopment Authority. Only Singapore citizens are allowed to buy landed homes in the 39 …