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View Full Version : Yishun EC site attracts top bid of $213.8m



Pro888
25-10-11, 18:20
MCC Land put in the highest bid price, which is higher than the previous EC site in Pasir Ris.

Breakeven is above $600psf.

Pro888
25-10-11, 18:35
Total 8 bidders.

So they are going to sell at least $700psf. Nearby pte condo will benefit.

Punggol. Sengkang & Pasir Ris are pretty "hot" now, to achieve higher psf land price, developers are very optimistic in Yishun & Northern area.

Now, the next one to watch out is the "Yishun Residences". See how the Bedok one sells.

solsys
25-10-11, 18:54
Bingo! Just as we expected! :)

kane
25-10-11, 20:23
Is the site near MRT? 600psf with 20% mark up means $720psf. So who should receive the cooling measure more?

solsys
25-10-11, 20:40
Limited supply plus high demand from upgraders means North is much better than North East.

Pro888
25-10-11, 20:53
Is the site near MRT? 600psf with 20% mark up means $720psf. So who should receive the cooling measure more?

Quite near but not so near to the track instead, but the LTA will be building a new station there (abt 150m away) when critical mass is achieved.

DBSS now already $650 psf on avg, so EC price will be above $700 psf.

solsys
25-10-11, 21:24
8cy, Emerald, Sapphire, CR will get raise of 50psf ? :D

kane
25-10-11, 22:09
8cy, Emerald, Sapphire, CR will get raise of 50psf ? :D

maybe 8cy lah, since they were selling for about 750psf right?

mantrix
25-10-11, 23:18
Gratz to all the owners staying nearby...

Maybe Seletaris owners may see a minor increase too?

kane
25-10-11, 23:24
Gratz to all the owners staying nearby...

Maybe Seletaris owners may see a minor increase too?

The NSE is causing a overhang for seletaris.

mantrix
25-10-11, 23:35
The NSE is causing a overhang for seletaris.

yup that's why their prices have been depressed because of that....just thinking this may give them a little bit of cheer?

kane
25-10-11, 23:38
better if they say the NSE stretch outside Seletaris is going to be constructed underground. their price could rebound strongly.

Pro888
25-10-11, 23:47
The NSE is causing a overhang for seletaris.

Yes. Not really for seletaris or maybe, but good for 8CY (> $800 psf avg currently), emerald & Sapphire. The base price for that area will be set.

The price pusher will be the site next to SSC and will be launching in a few months time. Dun forget breakeven @ $800psf.

More to come for the next few months.

LHL also recently mentioned on the facelift on older estate like Yishun. Dun know what can he come up with or when or never.

kane
25-10-11, 23:49
Yes. Not really for seletaris or maybe, but good for 8CY (> $800 psf avg currently), emerald & Sapphire. The base price for that area will be set.

The price pusher will be the site next to SSC and will be launching in a few months time. Dun forget breakeven @ $800psf.

More to come for the next few months.

LHL also recently mentioned on the facelift on older estate like Yishun. Dun know what can he come up with or when or never.

SSC stands for?

Pro888
25-10-11, 23:51
better if they say the NSE stretch outside Seletaris is going to be constructed underground. their price could rebound strongly.

Dig underground ? Too expensive & slow. It is viaduct for that stretch.

mantrix
25-10-11, 23:52
SSC stands for?

Sembawang Shopping Centre

kane
25-10-11, 23:54
Sembawang Shopping Centre

that's not near MRT leh.

Pro888
25-10-11, 23:54
SSC stands for?

Sembawang Shopping Centre. A rich tycoon who stays at Sentosa cove bidded that land. The piece of land is in between SSC & Canberra Res.

Pro888
26-10-11, 00:09
This EC site is one of the biggest land parcel on offer and still achieve higher ppr than Pasir Ris EC site. Normally bigger area get lower psf/ppr.

kane
26-10-11, 00:11
This EC site is one of the biggest land parcel on offer and still achieve higher ppr than Pasir Ris EC site. Normally bigger area get lower psf/ppr.

how many units expected there?

Pro888
26-10-11, 00:17
how many units expected there?

Pretty large at 725.

kane
26-10-11, 00:19
response should be decent with the higher income ceiling.

solsys
26-10-11, 08:35
Alot of pent up demand in yishun.

First from upgraders in the area due to lack of new projects.

Second, other area upgraders are pushed to yishun, last frontier for affordable housing.

Third, it's the last couple of matured estates that will eventually be rejuvenated.

Catch up game with the rest of SG. :p

kane
26-10-11, 10:49
Alot of pent up demand in yishun.

First from upgraders in the area due to lack of new projects.

Second, other area upgraders are pushed to yishun, last frontier for affordable housing.

Third, it's the last couple of matured estates that will eventually be rejuvenated.

Catch up game with the rest of SG. :p

the phrase last frontier of affordable is an exaggeration lah. There's plenty of new build in ppunggol and in the future Tengah.

solsys
27-10-11, 14:29
the phrase last frontier of affordable is an exaggeration lah. There's plenty of new build in ppunggol and in the future Tengah.

Tengah hasn't happen. Punggol costs more than yishun I think.

Pro888
28-10-11, 21:49
Many owners of Yishun Emerald & YS have increased their asking price to more than $800 psf after the released of tender bid price for this EC site.

Sure will go up to $1000 psf.

kane
28-10-11, 23:30
Tengah hasn't happen. Punggol costs more than yishun I think.

no lah, punggol EC like Prive is about that price also.

solsys
30-10-11, 00:14
no lah, punggol EC like Prive is about that price also.


Prive is a done deal several months ago.

If this new EC launch at Yishun is about the same as Prive..... then it is cheaper, given that prices still rose from several months ago till now.

kane
30-10-11, 00:50
Prive is a done deal several months ago.

If this new EC launch at Yishun is about the same as Prive..... then it is cheaper, given that prices still rose from several months ago till now.

Prive is fairly near the MRT station whilst this one isn't right?

solsys
31-10-11, 01:12
Yishun is a matured estate, punggol isn't right?

Anyway, back to the original discussion, which is yishun is still more affordable than punggol and current projects in yishun are still undervalued.

Just wait and see yishun residences next to yishun mrt. This project will make the rest of yishun look so much more undervalued.

Not much space left in yishun, as the plots near emerald, sapphire are reserved for big commercial plans, that i believe will come once NSE is ready.

devilplate
31-10-11, 09:40
Yishun is a matured estate, punggol isn't right?

Anyway, back to the original discussion, which is yishun is still more affordable than punggol and current projects in yishun are still undervalued.

Just wait and see yishun residences next to yishun mrt. This project will make the rest of yishun look so much more undervalued.

Not much space left in yishun, as the plots near emerald, sapphire are reserved for big commercial plans, that i believe will come once NSE is ready.

now those 99lh not within 500m to mrt will be selling much lesser den those right on top of mrt or much nearer to mrt one lor

u see ATT which is selling about 900psf ave and whereas parc vera about 850psf ave and parc vera sales not as gd compared to ATT for being closer to city and cheaper somemore

but if parc vera is vy near to hougang mrt....hohoho......at least 950-1kpsf and more den 50% sold liao:2cents: :D

Nman
11-11-11, 09:12
dun know when the new EC launch?
Singapore Newshttp://www.channelnewsasia.com/images/icon_minus.gif (http://forums.condosingapore.com/)http://www.channelnewsasia.com/images/icon_plus.gif (http://forums.condosingapore.com/)http://www.channelnewsasia.com/images/shim.gif
Yishun EC site tender receives top bid of S$213m
Posted: 25 October 2011 2226 hrs
http://www.channelnewsasia.com/imagegallery/store/phpWAEaZq.jpg Photos 1 of 1 " src="/images/butt_next.gif" width="18" height="15" type="image">http://www.channelnewsasia.com/images/dotline_240.gif
The tender for a land parcel at Yishun Avenue 7/Canberra Drive received a total of eight bids (Photo from HDB) var addthis_pub="cnaacc"; var addthis_options = 'facebook, twitter, live, google, linkedin, digg, yahoobkm, more'; var storyTitle = "Yishun EC site tender receives top bid of S$213m"; var newStoryTitle = storyTitle.replace(/'/g,'\''); newStoryTitle = newStoryTitle.replace(/;\n/g,''); newStoryTitle = newStoryTitle.replace(/"/g,'"'); var addthis_config = { "data_track_clickback": true, ui_click: true } SINGAPORE: The tender for a land parcel at Yishun Avenue 7/Canberra Drive closed on Tuesday with a total of eight bids.

The 99-year lease property received a top bid of S$213 million from MCC Land, according to a release by the Housing and Development Board (HDB).

The second highest bid of S$197.5 million came from Sunmaster Holdings, while the S$190 million joint bid from Russville Pte Ltd and Low Keng Huat (Singapore) was third highest.

The site is slated for executive condominium (EC) development and analysts say the strong showing from developers reveals their continued interest in mass-market housing.

Recent policy changes, which saw the income ceiling raised from S$10,000 to S$12,000, have also allowed more buyers to qualify for ECs.

The top bid is "the highest unit land price achieved for an EC site in second half of 2011, particularly after market sentiments have been rocked by the debt crisis in the Western countries," said Ms Chia Siew Chuin, director of research & advisory at Colliers International.

She added that it is also about four per cent above the S$281 per sq ft per plot ratio received for The Canopy EC site located at Yishun Avenue 11 in March 2010.

CBRE research executive director Li Hiaw Ho said the top bid translates to a break-even cost of around S$600 psf.

He said units in the new executive condominium will likely be priced in the S$600-S$700 psf range.

The land parcel was launched for tender on August 25. HDB said it will evaluate the bids and will announce the decision on the tender award at a later date.

Pro888
03-01-12, 13:14
Some action on this plot this morning.

MCC land has put a container there. And some digging goin on.

Very soon.

Pro888
07-01-12, 23:28
They goin to build the showflat. Saw many glass panels.

Ground leveling and fence being put up.

100% take up rate shldnt be a prob.

Pro888
13-02-12, 12:01
Launching in Apr with indicative price of around $700psf.

Only 665 units instead of govt initial estimate of 725 units.

http://www.newproperty.sg/index.php/projects-by-district/d25-d28-north/19-yishun-ec

xemz127
15-02-12, 19:59
Launching in Apr with indicative price of around $700psf.

Only 665 units instead of govt initial estimate of 725 units.

http://www.newproperty.sg/index.php/projects-by-district/d25-d28-north/19-yishun-ec

MCC plans for big units :D

Pro888
02-03-12, 23:58
With this new policy change, i do expect a slight increase in price.

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1186653/1/.html

Launch next month, sure super pack as 2nd time buyer got higher chance of getting a unit.

devilplate
03-03-12, 00:01
With this new policy change, i do expect a slight increase in price.

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1186653/1/.html

Launch next month, sure super pack as 2nd time buyer got higher chance of getting a unit.
Hmmm....750psf? Den 8cy early birdies 750psf huat huat liao?

Pro888
03-03-12, 00:10
Hmmm....750psf? Den 8cy early birdies 750psf huat huat liao?

750psf is pretty on the high side as this project consist only the bigger units.

2nd time buyers have deeper pockets.

Still very early to gauge on the price they gg to launch but now, MCC land happily doing the sum

solsys
03-03-12, 22:28
750psf is pretty on the high side as this project consist only the bigger units.

2nd time buyers have deeper pockets.

Still very early to gauge on the price they gg to launch but now, MCC land happily doing the sum

Government damn smart, carry balls of MCC related to China minister.

It now makes sense why they plan bigger units and launch at higher price because they knew this 30% rule is coming.

Demand is high for 2nd timers who got the cash to pay for bigger units.

I expect big units to still command similar psf in this project.