Good Class Bungalow market continues to sizzle

Singapore

THE creme de la creme of Singapore's landed housing market remains buoyant.

In the first two months of this year, some S$424 million of deals in Good Class Bungalow (GCB) Areas have been transacted - nearly 40 per cent of the tally for the whole of last year.

Based on URA Realis' caveats data, the number of deals since the start of this year stands at 16, with the latest transaction dated Feb 23.

"The last time that the sales volume in the first two months of the year hit double-digit was in 2011 with 12 deals and prior to that, in 2010, with 18 deals," said List Sotheby's International Realty (List SIR) research director, Han Huan Mei.

"Incidentally, 2010 was the period in which the Singapore economy was recovering from the Global Financial Crisis, aided by the …