GCB land rates hit 5-quarter high at $2,341 psf as deals thin

Seven bungalows changed hands in Q2 up from four in Q1 but below year-ago's nine.

Good Class Bungalows' (GCBs) average land rate, based on caveated transactions, rose to $2,341 per square foot (psf) in the second quarter (Q2) of 2026, the highest since the first quarter (Q1) of 2025, according to Realion (OrangeTee & ETC) Research.

Broader data showed that Q2 2024 prices exceeded $2,000 psf before trending downwards until the fourth quarter of the same year.

In Q1 2025, prices peaked at above $3,000 psf before falling below $2,000 psf in Q2 2025.

GCB prices remained relatively flat from the third quarter of 2025, dipping to a low of $1,803 psf in Q1 2026 before rebounding in Q2.

Seven GCB transactions were recorded in Q2 2026, three more than in Q1 2026 but two fewer than in Q2 2025.

Amongst the seven transactions, a GCB in the Nassim Road area was the highest-value deal, changing hands for $64.9m.

“A pair of adjacent GCBs were also sold in the Belmont Park GCB area for $34.8m and $25.2m,” the report added.

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