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GCB gross sales decelerate in H2 22 because of rate of interest hikes: analyst

Team of workers Reporter

,

Singapore


The GCBs offered had been valued at $613.45m, down 18.4%.

Transactions of excellent magnificence bungalows (GCB) decelerated 18.4% in the second one part (H2) of 2022, with over 18 GCBs price $613.45m in comparison to H2 2021, CBRE information confirmed.

On a every year foundation, the transactions additionally virtually halved of $1.210b throughout virtually 40 GCBs offered in H2 2021.  

For a complete yr, 47 GCBs had been valued at $1.365b, 54.3% down year-on-year from $2.9b throughout 98 GCBs offered in 2021.

The gross sales declined in H2 2022 pushed by way of faster-than-expected rate of interest hikes and a worsening macroeconomic backdrop. However CBRE mentioned the entire GCB gross sales worth in 2022 had been nonetheless upper than 2019 ranges.

Marketplace job 

There might be extended geopolitical tensions and rate of interest hikes that can problem the GCB marketplace.

Transaction job may just keep gradual for many of 2023, no less than till rates of interest stabilise and there may be extra readability within the macroeconomy, CBRE mentioned. 

“In the long run, Singapore’s robust positioning as a wealth hub and the continuing good looks of GCBs as standing symbols and for wealth perseveration should reinforce call for and costs,” it added.

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