Good Class Bungalows still seen as a sure bet by the ultra-rich. Are there risks ahead?

Investing in these prized properties reserved for Singaporeans is a reliable way to diversify their wealth; buyers must watch potential wealth tax, rezoning

Leslie Yee

Published Thu, Feb 18, 2021 · 05:50 AM

Good class bungalow

Singapore

IN SPITE of the economic damage wrought by Covid-19, Singapore's Good Class Bungalow (GCB) market had a stellar 2020 with transaction value up 35 per cent from a year ago to S$1.05 billion. Market watchers expect positive momentum to carry through this year.

As it is, caveats have been lodged for 11 GCBs worth S$302 million between Jan 1 and Feb 1 this year, data from List Sotheby International Realty showed.