Increasing buzz in GCB market as prices ease
Agents note that despite limited supply, prices have softened due to weak sentiment
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THE Good Class Bungalow (GCB) market has been active lately with some owners lowering their price expectations, resulting in deals being sealed, say bungalow agents.
So far this year, 29 bungalows in GCB Areas have changed hands for a total S$645 million; this is slightly ahead of the 28 transactions totalling S$626 million for the whole of last year. In 2013, there were 29 deals that amounted to S$682 million.
Among the latest deals is a bungalow along Peel Road, near Swettenham Road, that was sold for S$19.5 million or S$1,258 per square foot based on the freehold land area of 15,504 sq ft.
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