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Why are Good Class Bungalows (GCBs) headed for a record high in 2021?

Property prices really have gone up across all segments, even the extreme luxury end. Good class bungalows (GCBs) have been all the rage in 2021: From $144 million worth in transactions in 48 hours (in July), to news of tech billionaires developing a penchant for these. There’s also a good likelihood that, with Covid-19 continuing to wreak havoc, the GCB. ....

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The CEO of TikTok is reportedly in talks to buy a $64 million bungalow in Singapore - take a look at the street it's on

The CEO of TikTok is reportedly in talks to buy a $64 million bungalow in Singapore - take a look at the street it's on
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Good Class Bungalows on a roll - H1 deals soar to S$1.4 billion


Singapore
THE Good Class Bungalow (GCB) market is on a roll.
List Sotheby s International Realty s analysis of URA Realis caveats data shows that year to date (with the latest transaction dated June 18), there have been 50 deals in GCB Areas totalling nearly S$1.4 billion. This is higher than the total for the whole of last year - 46 deals amounting to S$1.1 billion.
The action is expected to continue, with attractive new offerings on the market.
Among them is a bungalow in Cluny Hill with a freehold land area of 18,010 sq ft. Word in the market is that the pricing expectation is about S$3,200-3,400 per square foot (psf) on land area, which would translate to around S$57.6 million to S$61.2 million. ....

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