23 Apr '16, 1pm

#singapore #property GCB sales rose to $209m in Q1: The good class bungalow (GCB) marke...

Good class bungalows are some of the most expensive homes in Singapore. The good class bungalow (GCB) market reported an improvement in sales during the first quarter, with sellers lowering their asking prices to attract buyers, reported The Business Times . “Owners who bought GCBs several years ago have found it profitable to sell at today’s prices rather than later, in view of the uncertainties in the economic outlook,” said Douglas Wong, Head of Luxury Homes at CBRE Realty Associates. Based on CBRE data, there were nine transactions collectively valued at $209 million in Q1 2016. In the previous quarter, the number of deals was the same, but it only reached $161 million, while there were only four sales in Q1 2015 with a combined value of $95 million. However, prices of these exclusive landed homes are estimated to have declined by nearly 15 percent from their peak in 2...

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

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