Good Class Bungalow (GCB) market trends

The good class bungalow (GCB) market saw an unparalleled fervour last year, with homebuyers encouraged by the price correction during the pandemic in 2020. The transactions had chalked up to a sum total of more than $2.6 billion.

The continued rise in land prices for GCBs this year, which denotes prices picking up with the market’s recovery from the impact of pandemic, has also brought on a slower albeit healthy sales volume in 2022.

The mismatch in sellers’ price expectations and those of buyers, who may be wary of the economic outlook, may further abate the market enthusiasm.

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