Chart of the Day: Posh private home transaction volumes crashed 33.8% in H1

GCB sales plunged 45.3% in the first half of the year.

This chart from Knight Frank shows that the sales of landed homes above $5m crashed 33.8% in H1 to $1b.

The number of posh private home transactions has dropped for two consecutive quarters. In H1, it slid down 27.3% to 104 units. The sales of good class bungalows (GCBs) plunged 45.3% in the same period, with $211.9m worth of GCBs transacted in H1. 

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The report also added that the price gap between buyers and sellers widened, especially for those sellers with deep pockets. District 10 accounted for the most sales of high-end landed homes in the period, but its sales went down from 45 homes in H2 2018 to 30 homes in H1.

Despite the marked sales decline, there were still some notable transactions in H1 2019 which include the sale of luxury homes like 139 Cove Drive, a seafront bungalow in Sentosa known for copper claddings on its facade.