{"id":61282,"date":"2017-07-20T11:26:47","date_gmt":"2017-07-20T04:26:47","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/strong-pick-up-in-sales-of-gcbs-and-sentosa-cove-homes\/"},"modified":"2017-07-20T11:28:57","modified_gmt":"2017-07-20T04:28:57","slug":"strong-pick-up-in-sales-of-gcbs-and-sentosa-cove-homes","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/strong-pick-up-in-sales-of-gcbs-and-sentosa-cove-homes\/","title":{"rendered":"Strong pick-up in sales of GCBs and Sentosa Cove homes"},"content":{"rendered":"


\nView of waterfront bungalows in Sentosa Cove.
\nSales of good class bungalows (GCBs) and Sentosa Cove homes picked up in the first half of 2017 from a year ago, according to a report by List Sotheby\u2019s International Realty, Singapore.
\nBased on caveats lodged with URA Realis, 20 GCBs and seven bungalows at Sentosa Cove were sold between January and June, compared to 14 GCBs and none at Sentosa Cove during the same period last year.
\nAt this pace, the GCB market in 2017 could outperform last year\u2019s total sales volume of 37 GCBs.
\nThe 20 GCBs sold amounted to an investment value of $432.21 million, up significantly from $298.36 million for the 14 GCBs.\u00a0\u00a0 \u00a0
\nSEE ALSO:\u00a010 facts about good class bungalows
\nLeong Boon Hoe, Chief Operating Officer at List Sotheby\u2019s International Realty, Singapore, noted that the GCB market seems resilient to downturns as seen by increased activities during the 1999 Asian Financial Crisis and the sub-prime mortgage-led global financial crisis of 2009-2010. \u00a0
\nIn fact, he believes that foreign investors still find Singapore properties attractive, \u201csubstantiated by the 545 caveats lodged by permanent resident and foreign buyers in the Core Central Region in the first half of 2017, representing a 22 percent y-o-y increase by the same group\u201d.
\n\u201cExcluding Singaporeans, the top five nationalities who bought residential properties in H1 2017 were PRC nationals, Malaysians, Indonesians, North Americans and Hongkongers,\u201d he said.
\nSince opening in Singapore just four months ago, the luxury realtor has secured $142 million in new business appointments.
\nThese include the $108 million Wallich Residence super penthouse, a $21 million Sentosa Cove bungalow, and a $13 million condo at Marina May Residences. \u00a0
\nSEE ALSO: Wallich Residence project review
\nDespite signs of an upward trend, the firm cautioned that it is still too early to expect a full market recovery.
\nIt pointed to GDP growth which remained unchanged at 2.5 percent for the first two quarters of 2017, as well as the slightly higher unemployment rate among mid-career professionals.\u00a0\u00a0
\n\u00a0<\/p>\n

Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Strong pick-up in sales of GCBs and Sentosa Cove homes<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of waterfront bungalows in Sentosa Cove. Sales of good class bungalows (GCBs) and Sentosa...<\/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-61282","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-fWq","jetpack-related-posts":[{"id":63708,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-home-sales-expected-to-gradually-rise\/","url_meta":{"origin":61282,"position":0},"title":"Luxury home sales expected to gradually rise","date":"August 15, 2017","format":false,"excerpt":"\r \u00a0 A total of 22 good class bungalows (GCB) collectively worth S$463.91 million changed hands in 1H 2017, up from 14 GCBs with a combined value of S$298.36 million in the same period a year ago, according to a report from CBRE. \u201cThe largest deal was that of a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121723,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-sales-in-sentosa-cove-reach-new-record\/","url_meta":{"origin":61282,"position":1},"title":"Home sales in Sentosa Cove reach new record","date":"August 30, 2021","format":false,"excerpt":"\r Home sales in Sentosa Cove reach new recordSome analysts believe the high transaction volumes in Sentosa is a spillover from the growing demand for luxury homes within the Rest of Central Region (RCR), considering that prices on the island remain relatively lower compared to those on the mainland. Sentosa\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/Sentosa-cove-apartments-1.jpg?fit=819%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":109702,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ultra-rich-foreigners-turn-to-singapore-luxury-homes\/","url_meta":{"origin":61282,"position":2},"title":"Ultra-rich foreigners turn to Singapore luxury homes","date":"August 7, 2019","format":false,"excerpt":"\r Luxury residential brokerage firm Sotheby\u2019s International expects foreign ultra-high-net-worth (UHNW) investors to drive sales activity within Singapore\u2019s luxury residential segment. This comes as the geopolitical tensions in the UK and Hong Kong are enhancing the attractiveness of luxury homes within the city-state, reported Singapore Business Review. British billionaire James\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104115,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/good-class-bungalows-fetch-record-prices-amid-market-slowdown\/","url_meta":{"origin":61282,"position":3},"title":"Good class bungalows fetch record prices amid market slowdown","date":"February 18, 2019","format":false,"excerpt":"\r The bungalow of HDB\u2019s former chairman was sold last year for nearly $94 million. (Photo: JLL) Despite a slowdown in the property market, prices of Singapore\u2019s good class bungalows (GCBs) continue to soar to record heights even though foreigners are not allowed to acquire this type of asset, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64982,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-gcbs-off-holland-road-could-fetch-65m\/","url_meta":{"origin":61282,"position":4},"title":"Two GCBs off Holland Road could fetch $65m","date":"August 30, 2017","format":false,"excerpt":"\r View of the two bungalows at Peirce Road. (Photo: Cushman & Wakefield) Two hilltop good class bungalow (GCB) plots at 26A and 26B Peirce Road off Holland Road have been put up for sale by expression of interest (EOI), said marketing agent Cushman & Wakefield. Zoned residential under the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120009,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/growing-demand-for-sentosa-cove-bungalows\/","url_meta":{"origin":61282,"position":5},"title":"Growing demand for Sentosa Cove bungalows","date":"January 15, 2021","format":false,"excerpt":"\r Singapore continues to draw foreign buyers despite travel restrictions, partly due to\u00a0its success in handling the pandemic.\u00a0Sentosa Cove is the only place where a foreigner may seek approval to acquire a\u00a0landed residential property\u00a0for their own use. Real estate agents expect the healthy sales momentum for bungalows within Sentosa Cove\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/sentosa_cove.original.jpg?fit=840%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/61282"}],"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=61282"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/61282\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=61282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=61282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=61282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}