31 Mar '15, 7am

#singapore #property GCB prices holding firm on limited supply: Despite the depleting s...

#singapore #property GCB prices holding firm on limited supply: Despite the depleting s...

Comment E-mail to friend Bookmark & Share Despite the depleting sales of good class bungalows (GCBs) amid a depressed real estate market, prices of these ultra-luxury homes have held firm, according to property agency ERA Realty. Between 2010 and 2014, GCB transactions fell from 80 units to a low of 15 while the median psf price for each unit increased sharply by about 35 percent from $1,107 to $1,490 psf. The agency stated that a limited supply in the market is helping to prop up prices. A check online reveals there are an estimated 2,500 GCBs only. “Prices will continue to rise in the GCB market due to the depleting supply in this luxury landed market segment,” shared Henry Lim, Head of ERA’s GCB division. Many sellers in the GCB market also have holding power as they are generally affluent individuals who are unaffected by market changes. GCB price trends from 2010-2015...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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