Higher GCB prices despite fewer sales

Singapore

PRICES of good class bungalows (GCBs) are likely to rise or hold firm this year while the number of transactions remains low, property market observers say.

Barring shocks to the economy, GCB prices will hold firm in 2015 due to the lack of supply and the fact that the GCB market "caters to a very stratified layer of the privileged few", says Savills Singapore research head Alan Cheong.