Luxury property market in Singapore has experienced some stirrings in first half of 2015 since buying interest picked up, CBRE Research reported.
About 15 Good Class Bungalows with priced average of S$1,442 per sq ft were sold during 1H 2015, lower than S$1,488 per sq ft of 1H 2014 and higher than S$1,381 per sq ft of 2H 2014.
Prices of Good Class Bungalows (GCB) managed to stay resilient while sales volume had taken a beating in the last 2 years.
Although cooling measures did not achieve to bring a price improvement, they have aided to control the exuberance in buying and stopped investors from over-leveraging in mortgages. It resulted a healthier and stronger property market. Buyers of Good Class Bungalows (GCB) are mostly long-term investors or owner-occupiers with stable financial muscle.
CBRE presume prices to hold firm in second half of 2015, having additional 10 to 15 Good Class Bungalows (GCB) to be sold. Singapore Property offers Victoria Park Villas, a mixed of luxurious bungalow and semi-detached units at Coronation Road Singapore.
