Why it's high time to buy good class bungalows
Prices fell by 2.5% to $1,318 psf.
The Good Class Bungalow (GCB) market continued to attract special interest in the 1H of 2016. Data from URA show a total of 14 GCBs were sold during the period which amounted to $298.36M. This compares with the 18 GCBS that were sold in 2H2015 at $377.18M.
With owners' price expectations moderating, CBRE notes that some buyers are seeing a window of opportunity to invest. Moreover, it notes that owners who bought GCBs several years ago have found it profitable to sell at today's prices rather than at a later date.
Overall, CBRE estimates GCB prices fell by 2.5% to $1,318 psf on land area, from $1,352 psf as at end-2015.
It expects 25-30 GBCs to be sold through the year.
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