GCB market may be entering consolidation phase after stellar run-up

Singapore

AFTER a strong performance so far this year, the Good Class Bungalow (GCB) market may be entering a consolidation phase as the buyer-seller price gap starts to widen, say observers.

Bruce Lye, co-founder of property agency SRI, said: "The buying euphoria in the GCB market seems to have cooled a little. However, owners' asking prices remain firm. The trend we are seeing is that buyers who are in the market are weighing their options and picking up properties that offer them the most value - but even these are still at new benchmark prices for the locale."