Luxury property market 'stable' despite GCB sales hitting record low

📆 26/03/2024 07:57:00
📰 SBRMagazine

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pstrongOnly 23 good class bungalows were sold in 2023, the lowest in 27 years./strong/p pThe luxury residential market in Singapore remains resilient amidst a notable drop in transactions, with prices showing growth, reports CBRE.

The luxury residential market in Singapore remains resilient amidst a notable drop in transactions, with prices showing growth, reports CBRE.

From July to December 2023, only nine GCBs were sold, amounting to $202.05m collectively. This marks a 67.1% year-on-year decline and a 64.9% decline from the first half of 2023. Transactions and price movements in Sentosa Cove mirrored those observed on the mainland of Singapore. “If interest rates start easing and the economy recovers strongly in H2 2024, the price gap between buyers and sellers could narrow and market activity could pick up”, she noted....there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

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