A year of jaw-dropping Good Class Bungalow deals

EdgeProp Singapore

December 23, 2021



SINGAPORE (EDGEPROP) - This year was a record year for the Good Class Bungalow (GCB) market. Up to end-November, a total of 85 bungalows in GCB areas were sold, with sales value at $2.407 billion. This is double the transaction volume in 2020 (with 46 bungalows sold) and 120% higher in terms of deal value which clocked in at $1.09 billion, says List Sotheby’s International Realty’s director of research Han Huan Mei.

While 2010 may have been a watershed year and still holds the record with 120 bungalow deals done, bungalow prices were lower a decade ago, which translated to total sales value of $2.237 billion. Hence, the transaction value for the first 11 months of 2021 has already surpassed 2010’s.



Based on the top 10 GCB deals this year, it is clear that the bungalows that were sold in 2021 sat on bigger land plots, averaging 26,812 sq ft, compared to an average of 24,263 sq ft in the previous year. Average price of the 10 biggest deals this year was $63 million, which is 50% higher than the $42 million recorded for the top deals in 2020.

Read more at: https://www.edgeprop.sg/property-new...bungalow-deals