538 landed homes were sold in the second quarter – this is the highest quarterly volume since the fourth quarter of 2012. Overall, the number of landed homes sold has increased, driven by falling prices and limited supply of landed homes. URA flash estimates released recently indicated that prices of landed residential properties fell further by 0.4 % for Q2, down from a 1.8 % drop in the previous quarter.
The market for good class bungalows (GCBs) is lukewarm although the market for smaller bungalows in GCB areas is on a rise. Good class bungalows (GCBs) are the most prestigious segment of landed property in Singapore.