A buoyant 2021 sees Singapore luxury apartment sales double, GCB deal value soars to new high

Singapore

THE increase in additional buyer's stamp duty (ABSD) rates for foreigners and property investors could cause Singapore's luxury residential market to lose some steam this year, following buoyant volumes and prices in 2021, CBRE analysts said.

The Good Class Bungalow (GCB) segment enjoyed a banner year in 2021 as volumes and prices climbed to fresh highs. It posted a stellar performance in the first half of the year, and held steady in the second half despite year-end festivities and diminished supply.