Who Are Buying Good Class Bungalows (GCBs) in Singapore? (2021)

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Forget about luxury condos. In Singapore, Good Class Bungalows are the highest form of prestigious housing.

Just ask some of Singapore’s most successful tech CEOs, who have of late scrambled to purchase Good Class Bungalows. As tech CEOs are basically the royalty of our age, this has made people sit up, pay attention and take a new interest in these ultra-exclusive houses.

Before we jump into reviewing who are the individuals behind some of the most high-profile GCB purchases this year, let's take a look at GCB pricing trends and transaction data to get a sensing of the GCB market.

 

Good Class Bungalow Price and Transaction Trends in Singapore

Transaction Trend for Good Class Bungalows

 

GCBs have always been an asset perceived as a status symbol. Of late, the demand for luxury property in Singapore has been booming and the same can be said for the GCB market

In this chart tracking the overall transaction volumes in the four districts with GCBs (Districts 10, 11, 20 and 21), you’ll see that there has been an increase in the number of transactions over the past five years.