Higher GCB prices despite few sales

Good Class Bungalows, the most prime of all landed residential properties in Singapore, are likely to hold their prices steady or may even rise, while number of transactions remain slow according to Business Times. This is due to the lack of supply and that the market is catered to very small privileged layer of Singaporeans and residents, unless there are shocks in the local economy. From 2010 to 2014, the annual number of GCB sales fell from 80 to 15 units. The median psf price however rose 35% from S$1107 psf to S$1490 psf. In 2015 so far, the median psf is S$1543 psf.

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