Good Class Bungalow transactions dwindle by 58.3% YoY in 2023

Only 20 GCBs were sold last year.

The number of Good Class Bungalows (GCBs) sold in 2023 fell 58.3% YoY to 20 in 2023.

The value of transacted GCBs also fell by 47.9% YoY to $727.2m last year.

According to Huttons, most of the GCB deals in 2023 were in the range of $20m to $30m “as buyers stayed prudent and are not willing to pay over the top prices for a GCB.”

The top GCB deal in 2023 by price was in the Nassim Road GCBA, bought by the Fangiono family for $206.7m.

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