{"id":59957,"date":"2017-07-06T10:14:25","date_gmt":"2017-07-06T03:14:25","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/good-class-bungalow-market-lukewarm\/"},"modified":"2017-07-06T10:18:55","modified_gmt":"2017-07-06T03:18:55","slug":"good-class-bungalow-market-lukewarm","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/good-class-bungalow-market-lukewarm\/","title":{"rendered":"Good class bungalow market lukewarm"},"content":{"rendered":"


\n\u00a0
\nWhile activity in Singapore\u2019s good class bungalow (GCB) market is tepid \u2013 moving only 10 units in the first half of the year, down from 11 units over the same period last year \u2013 smaller bungalows in GCB areas witness brisker sales, reported The Straits Times.
\nCBRE\u2019s analysis of caveats filed with the Urban Redevelopment Authority (URA) showed that 20 sales worth a total of S$432.2 million have been registered in GCB areas so far this year, up from the 14 transactions recorded over the same period in 2016.
\nDescribing the market to be driven by \u201cmultiple small-sized deals\u201d, Douglas Wong, head of luxury homes at CBRE Realty Associates, does not expect this year\u2019s sales to exceed last year\u2019s 37 transactions.
\n\u201cWe expect 30 to 35 GCB transactions this year as sellers are more motivated to preserve capital and wait for market sentiment to improve. Prices are likely to be flat.\u201d
\nHe noted that this year\u2019s buyers include entrepreneurs in their 40s and corporates, with interest from new citizens, especially those originally coming from China.
\nMeanwhile, Savills senior director of research and consultancy Alan Cheong attributed the slowdown in GCB transactions to the lack of available good stocks for sale.
\nAccording to him, this year\u2019s transactions were of a lower dollar psf basis, indicating poorer site characteristics.
\n\u201cWhat is holding the market back is that the \u2018creme de la creme\u2019 sites are still hard to come by with owners either refusing to sell at all costs or (selling) at exorbitant prices. Therefore, what gets transacted will be for GCBs that are in the normal rather than the superior grade in terms of location and land dimensions.\u201d
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Good class bungalow market lukewarm<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 While activity in Singapore\u2019s good class bungalow (GCB) market is tepid \u2013 moving only...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-59957","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-fB3","jetpack-related-posts":[{"id":113823,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sino-group-chairmans-son-acquires-gcb-for-37m\/","url_meta":{"origin":59957,"position":0},"title":"Sino Group chairman\u2019s son acquires GCB for $37m","date":"January 23, 2020","format":false,"excerpt":"\r The East Sussex Lane GCB is acquired by Alexander Ng \u2013 the son of Hong Kong-based Sino Group chairman Robert Ng. Image:\u00a0ntfcf.org.hk The sale of two good class bungalows (GCB) in District 10 for over $30 million last month boosted the total tally of GCB deals for 2019, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93023,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-bungalow-at-sixth-avenue-up-for-sale-at-16m\/","url_meta":{"origin":59957,"position":1},"title":"Freehold bungalow at Sixth Avenue up for sale at $16m","date":"July 3, 2018","format":false,"excerpt":"\r The old single-storey bungalow near Sixth Avenue MRT station was built around the 1980s. (Photo: JLL) A freehold bungalow at 45 Sixth Avenue has been put up for sale carrying an asking price of $16 million or about $1,274 psf, revealed marketing agent JLL on Monday (2 July). Located\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112627,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/total-volume-and-value-for-gcb-deals-dip-in-2019\/","url_meta":{"origin":59957,"position":2},"title":"Total volume and value for GCB deals dip in 2019","date":"November 25, 2019","format":false,"excerpt":"\r Analysts say it\u2019s not surprising to see lower GCBs sales compared to 2018, given the uncertain economic climate.\u00a0 While 2019 has seen a high number of Good Class Bungalow (GCB) transactions, the overall volume and value of deals closed seem to be falling behind the exceptionally high base of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120527,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/grab-ceos-wife-acquires-gcb-in-bin-tong-park-for-40mil\/","url_meta":{"origin":59957,"position":3},"title":"Grab CEO\u2019s wife acquires GCB in Bin Tong Park for $40mil","date":"July 12, 2021","format":false,"excerpt":"\r The 21,6327 sq ft Bin Tong Park property, bought for $40 million, is expected to be redeveloped by the couple. Source: Google Maps The wife of Grab Co-founder and CEO Anthony Tan has acquired a property within the Bin Tong Park Good Class Bungalow (GCB) area for $40 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/GOOD-CLASS-BUNGALOW.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":108264,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-good-class-bungalows-up-for-sale\/","url_meta":{"origin":59957,"position":4},"title":"Two Good Class Bungalows up for sale","date":"June 19, 2019","format":false,"excerpt":"\r Good Class Bungalows (GCBs) are the most prestigious type of landed housing in Singapore that only Singaporeans can buy. Shown is a\u00a0two-storey bungalow at 22A King Albert Park. Two good class bungalows (GCB) within District 10\u2019s Bin Tong Park and District 21\u2019s King Albert Park GCB areas have been\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/06\/5-Bin-Tong-Park.jpg?fit=810%2C540&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":111658,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nassim-road-gcb-for-sale-for-175m\/","url_meta":{"origin":59957,"position":5},"title":"Nassim Road GCB for sale for $175m","date":"October 17, 2019","format":false,"excerpt":"\r The two-storey bungalow has a total floor area of about 13,839 sq ft and\u00a0is a mere five-minute walk to the Botanic Gardens, and is a 10 minutes\u2019 drive to the CBD. Image source: CBRE A two-storey conservation good class bungalow (GCB) at 40 Nassim Road has been put up\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/59957"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=59957"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/59957\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=59957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=59957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=59957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}