GCB transaction volumes hit fresh high of $3bn in 2021

Last year’s record also represents a three-fold increase from 2020.

The Good Class Bungalow (GCB) segment had a grand ending to 2021 as full-year transaction volumes hit a fresh high of $3.000b. The total number of GCBs sold in 2021 was 99.

The 2021 record not only surpassed the record-high volume of $2.425b in 2010, but it also went beyond the 2020 figure ($1.086b) by three-folds.

CBRE cited the improved activity in the segment to “fresh demand from digital economy entrepreneurs, key executives and continued demand from new citizens, amidst SG’s recovering economy, ample liquidity and the low-interest-rate environment.”

Apart from transaction volumes, average prices also surged to a record-high in 2021 at $1,771 psf, exceeding the previous peak in 2019 ($1,617 psf) by 9.4%.

CBRE said this is because 19 GCB transactions crossed the $2,000 psf threshold last year.

The strong moment in the segment, however, will slow down in 2022 due to the limited supply available for sale.

Follow the link for more news on

CBRE

singapore Good Class Bungalow sales

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia