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OUTLOOK 2023

GCB volumes next year expected to be similar to 2022 levels amid price gap

All eyes are on the trio of Nassim Road bungalows, which, if sold at an expected record price, could raise prices across the GCB market, say agents

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Kalpana Rashiwala

Kalpana Rashiwala

Published Fri, Dec 16, 2022 · 05:50 AM
    • This house on 17,905 sq ft of land in Tanglin Hill, completed in 1997, is now on the market with an asking price of S$52 million or S$2,904 psf.
    • This house on 17,905 sq ft of land in Tanglin Hill, completed in 1997, is now on the market with an asking price of S$52 million or S$2,904 psf. PHOTO: REALSTAR

    THE volume of transactions in Good Class Bungalow (GCB) areas next year is expected to be about the same as this year, amid a widening price gap between buyers and sellers.

    So far this year, there have been 43 deals in GCB areas totalling S$1.16 billion, based on the analysis of URA Realis caveats data downloaded on Dec 13 by List Sotheby’s International Realty (List SIR). (The latest transaction was dated Nov 18.)

    This marks a sharp fall from the 90 transactions amounting to S$2.57 billion last year.

    ResidentialGood class bungalowSingapore residential property

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