30 Nov '15, 2pm

New: Singapore Property News This Week #236 https://t.co/WOvHoS1Rzg

According to the Business Times, 29 Good Class Bungalows (GCBs) have changed hands for a total of $645 million since the start of the year. This is slightly more than the 28 transactions made last year, which totalled $626 million. Market experts believe that the GCB market is picking up as owners are lowering their price expectations. A recent sale was completed at $19.5 million or $1,258 psf for a 15,504 sq ft freehold bungalow along Peel Road. The property, which consists of two storeys and a basement, has a swimming pool and a home theatre room. The total built up area of the bungalow is about 9,000 sq ft. Despite the limited stock of GCBs, prices have fallen in the past year due to weak buyer sentiments, said market experts. Mary Sai from Knight Frank added that the global and local economic outlook had dampened interest in the market. Sai believed that the total debt...

Full article: https://www.propwise.sg/singapore-property-news-this-week...

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