GCB deals and prices expected to rise in 2024 on pent-up demand, motivated sellers

Market starts to stir in December after quietening in the aftermath of the anti-money laundering raids on individuals of Fujian origin

Published Thu, Dec 21, 2023 · 05:00 AM

One of the trio of bungalows in Nassim Road that changed hands for a total of S$206.7 million this year. The transaction is among at least S$700 million of deals in GCB Areas in 2023 for which buyers did not lodge caveats. PHOTO: REALSTAR

AFTER a relatively quiet year, the volume of transactions for Good Class Bungalow (GCB) Areas is expected to pick up in 2024.

This is likely to be fuelled by pent-up demand and more realistic price expectations from the segment of owners who are motivated to sell.

Expectations of lower borrowing costs are also likely to help improve the buying mood, said observers.