all our guesses of < 1000psf were wrong. hahahahahaha.
all our guesses of < 1000psf were wrong. hahahahahaha.
Of cse rah.. echelon sell 1.8k psf. Kim tian residence sell 1.6k psf laughing stock?Originally Posted by bargain hunter
was there a thread to guess the price for this plot. Was I the lowest bidder. haha.
CM8 draws even nearer......
its alright bro, this one really stuns all of us:
http://forums.condosingapore.com/sho...0&postcount=30
Kane 750psf
Lovelle 790psf
Pro888 828psf
Bargain Hunter & Rosy 850psf
Jeaprp 866psf
Phantom 868 or 900psf
Khng8 888psf
Amk & CCR 900psf
DKSG >920psf
CondoWe 930 to 980psf
Mcm 988psf
even MM King, the top bidder is lower than the top 5 developer bidders and the top bidder bid 17.7% above him.
Originally Posted by kane
I will have to take a bow to Mr Market.
Sadly I will have to retreat as current place is way out of reach.
Guess it will be MM to Tiong Bahru area.
There's no small format condo around so a "Urban Vista" is a real possibility.
Land bids so high. How to correct prices??
Units getting smaller and smaller to keep quantum affordable liao...
lol, my 750psf bid is a joke. if i was a developer, i will be eating west-north wind everyday.Originally Posted by bargain hunter
Prices of properties near MRT will continue to rise. COE price is a wild card tt many people r afraid of.
only pro dksg office boi is correct?Originally Posted by bargain hunter
"When awarded the site by the Urban Redevelopment Authority (URA), Keppel Land plans to develop about 500 homes, ranging between 500 sf and 1,350 sf in one- to four-bedroom configurations."Originally Posted by sunboy77
min no 900k no talk for 1rm?
actually may only be at a slight premium to echelon prices hor?
Originally Posted by dtrax
Should be same or slight premium. 2k psf shld be the pyschological barrier imo.
the high floors facing MBS will have super unblocked view, sure to shoot past 2kpsf for those units.
Originally Posted by dtrax
I SCREAM PSFFFFOriginally Posted by bargain hunter
Originally Posted by bargain hunter
a friend of mine staying at Regency @ Tiong Bahru ... 26th floor corner unit
unblock view of MBS and RWS ...
super strong wind ...
as for the Kepland plot ...
unless high enough the south side wud be blocked by HDBs ...
north side also they are building hdbs and have existing hdbs. its the east facing that will be valuable. takeover regency suites' view.
Originally Posted by proud owner
$1163 psf ppr (Kepland) vs $754 psf ppr (Echelon). How can be slight premium? Land cost is already 54% more ex...Originally Posted by bargain hunter
bro, ur mailbox is full.
Originally Posted by proud owner
they can earn lesser mah. now so competitive...
the higher floors they can sell super premium while lower floors prob more sane pricing.
Originally Posted by sunboy77
And i thought i was bullish!!!Originally Posted by bargain hunter
click: 🏢shoeboxmickeymousehouse 🏢
Finally, they wake up
More CM, price higher
So they're now experimenting no CM
I think need more resale units available to calm the market.
Yessss.... evidence is the upcoming joint multi GLS.Originally Posted by Laguna
More competiton = higher prices (where prized assets are concerned)
They are applying 'hawker centre economics' to real estate. Oh boy.
They never learn do they.
click: 🏢shoeboxmickeymousehouse 🏢
I am of the opinioned that have simultaneous GLS will lower the price of the winning bid. But whether the developer will pass this cost savings to the buyer is another matter altogether.Originally Posted by mcmlxxvi
they only experimenting with EC lands i hope? coz there's income cap, maybe it will work. but if try on PC land, end up all big boys bid high high lor and win multiple bids on same day also never mind.
Originally Posted by mcmlxxvi
Another reason is that the landbank of most of these listed developers are low, they need to build it up no matter how high the cost is. To them, zero project is much worse of than high-cost projects.Originally Posted by kane
This should be governed by the 70sqm rule?
How are they going to sell at the average of 2k psf?
PUBLISHED APRIL 19, 2013
KepLand's top bid sets new high for housing land
It bids $1,162.86 psf ppr for 99-year private housing site in Kim Tian Road
BYKALPANA RASHIWALA
'We are confident that we will see positive demand from home-owners who aspire to own a top quality home in the CBD's fringe'
- KepLand president (Singapore) Tan Swee Yiow
[SINGAPORE] A new high has been set for 99-year private housing land offered at a state tender.
The $1,162.86 per square foot per plot ratio (psf ppr) top bid from Keppel Land unit Harvestland Development for a plum site in Kim Tian Road was above expectations.
It also surpassed the previous high of $1,107.80 psf ppr that Far East Organization paid last August for a small plot next to Lutheran Towers along Farrer Road.
KepLand topped yesterday's tender for the plot near Tiong Bahru MRT Station and Tiong Bahru Plaza with a $550.28 million bid. This was 7.2 per cent more than the $513.33 million or $1,084.78 psf ppr from a Far East group-Sekisui partnership. The third highest bid, from a City Developments-led consortium, was $1,016.67 psf ppr. There were 11 bids in all.
Noting that the top three bids were above $1,000 psf ppr, SLP International executive director Nicholas Mak said that "some developers are still very bullish on the middle-high-end residential market segment, especially if there is limited new supply in that location".
KepLand's bid was 3.86 times what MCL Land paid for the previous 99-year private housing site sold by the state in the vicinity a decade ago - in March 2003. MCL paid $301 psf ppr for its site, which it has since developed into the MeraPrime condo. That tender had drawn 12 bids.
For the Kim Tian plot, property consultants had predicted bids of about $850-950 psf ppr when it was launched in late-February by the Urban Redevelopment Authority (URA).
CBRE associate director Desmond Sim notes that the site's proximity to the Tiong Bahru MRT station and established amenities outweighed the site's building restrictions.
These include maximum heights of 25, 30 and 40 storeys for different sections of the site and a maximum of 500 homes due to traffic issues in the locality. There is also a requirement for a basement carpark, which is more costly compared with a multi-storey carpark.
Market watchers' estimates of KepLand's breakeven cost range from $1,660 psf to $1,800 psf, with some suggesting that the group could be looking at an average selling price of around $2,000 psf.
They see KepLand taking the cue from Echelon, located near Redhill MRT Station, one stop away. Echelon's developer, City Developments, sold units at median prices of $1,836 psf and $1,832 psf in March and February respectively, according to URA data.
Meanwhile, the 500 homes stipulated for the Kim Tian project implies an average unit size of around 946 sq ft. Assuming a price of $2,000 psf, the average unit in the development would be priced around $1.9 million. This would be on the high side for a condo outside the Core Central Region that is targeted at the HDB upgrader market.
Still, Mr Sim argues that KepLand might be right in being optimistic, given the relatively high prices for HDB resale flats in the vicinity.
According to PropNex Realty CEO Mohamed Ismail, sellers of five-room HDB flats on high floors in the Kim Tian location are asking for well above $900,000. "For executive flats at Queenstown, two MRT stops away, sellers are asking for $1 million," he added.
KepLand president (Singapore) Tan Swee Yiow said: "We are confident that we will see positive demand from homeowners who aspire to own a top quality home in the CBD's fringe. . . Tiong Bahru is an established residential estate which is well-connected by public transportation and well-served by a wide range of facilities and amenities."
The Kim Tian site, in addition to being a stone's throw away from Tiong Bahru MRT Station on the East-West Line, will be 500 metres from the planned Havelock Station on the Thomson Line.
KepLand envisages a project with about 500 homes ranging from 500 sq ft to 1,350 sq ft in one to four-bedroom configurations.
"A wide range of shopping, dining and leisure amenities are a stone's throw away at Tiong Bahru Plaza, Tiong Bahru Food Centre, Tiong Bahru Conservation Area and Great World City," the group said.
Other bidders at yesterday's tender included CapitaLand unit Areca Investment which offered $993.42 psf ppr. Placing an identical bid was a tie-up between UOL Venture Investments and Kheng Leong Co.
Low Keng Huat partnered Sun Venture Homes for a $953.06 psf ppr bid. Wing Tai and Metro teamed up to bid $944.37 psf ppr. Frasers Centrepoint unit FCL Place bid $930 psf ppr.
Placing the lowest bid was Asset Legend, at $608.21 psf ppr.
the highlight of the article above:
CBRE associate director Desmond Sim notes that the site's proximity to the Tiong Bahru MRT station and established amenities outweighed the site's building restrictions.
These include maximum heights of 25, 30 and 40 storeys for different sections of the site and a maximum of 500 homes due to traffic issues in the locality. There is also a requirement for a basement carpark, which is more costly compared with a multi-storey carpark.
Market watchers' estimates of KepLand's breakeven cost range from $1,660 psf to $1,800 psf, with some suggesting that the group could be looking at an average selling price of around $2,000 psf.
They see KepLand taking the cue from Echelon, located near Redhill MRT Station, one stop away. Echelon's developer, City Developments, sold units at median prices of $1,836 psf and $1,832 psf in March and February respectively, according to URA data.
Meanwhile, the 500 homes stipulated for the Kim Tian project implies an average unit size of around 946 sq ft. Assuming a price of $2,000 psf, the average unit in the development would be priced around $1.9 million. This would be on the high side for a condo outside the Core Central Region that is targeted at the HDB upgrader market.
Originally Posted by Rosy