A total 49 Good Class Bungalows changed hands in Singapore for a total $785 million (US$532 million) last year, down from the 87 transactions worth $1.15 billion in 2007 and 119 deals at $1.23 billion in 2006, according to latest figures from property consultancy CB Richard Ellis.
On a dollar per square foot (psf) value based on land area, the average price of GCBs rose to $822 psf last year, from $681 psf in 2007 and $501 psf in 2006.
These figures reflect a 64 per cent increase in GCB prices in the two years.
Source : Business Times - 7 Jan 2009
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