Non-landed luxury segment and GCB market see best volumes since 2010: Huttons

EdgeProp Singapore

February 4, 2022

SINGAPORE (EDGEPROP) - The luxury property market saw a robust performance in 2021, with the non-landed luxury segment and Good Class Bungalows (GCBs) both recording their highest volumes since 2010.

According to Huttons’ quarterly Prestige Report, transactions in the non-landed luxury segment reached a high of 441 units in 2021, its best showing since 2010’s 587 units. This year’s volume is also more than double the 207 units transacted in 2020.

“Although 2021’s transaction volume is lower than 2010, the total transaction value was on par at $4.3 billion,” notes the report.



Notable transactions in 2021 include the sale of all 20 units of luxury development Eden for $293 million or $4,827 psf to the Tsai family behind Taiwan’s Want Want China Holdings.

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