GCB sales to pick up in 2025 amidst stabilising prices: report

In Q4 2024, GCB prices experienced a 22% correction.

In H1 2024, the slower good class bungalow (GCB) sales were influenced by the price expectations between buyers and sellers, PropNex reported.

In H2 2024, GCB prices dropped as the average transacted unit price on land area declined for two straight quarters in Q3 and Q4 2024, easing by approximately 6.6% quarter-on-quarter (QoQ) and 5.4% QoQ, respectively.

Meanwhile, the average unit price on land area for GCBs in Q4 stood at $1,942 psf, representing a price correction of 22% from the recent high in Q2 2023.

PropNex projects that the pent-up demand and interest for such bungalows, as well as the tight availability of such properties for sale, will lend support to GCB prices in 2025.

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PropNex

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