Chart of the Day: GCB sales crashed 45.3% to $211.9m in H2
Its median unit price also fell 25.8% to $1,166.
This chart from Knight Frank showed that the l sales of good class bungalows (GCB) plunged 45.3% in the first six months of 2019.
There were nine GCB deals during the period with the $39.8m sale of 63 Belmont Park being the most expensive. As it is a newly completed freehold bungalow off Holland Road, Knight Frank said this indicates how GCBs buyers are still willing to fork out a premium for their ideal property, especially for newer properties.
In addition, the median unit price of GCBs fell 25.8% HoH to $1,166 in H1. This was attributed to the decline in median land rates which could reflect the transactions of older GCBs, as its prices “tend to be resilient to market shocks.”
Overall, the number of luxury homes crashed 27.3% HoH to 104 units in H1.