Tender closing for residential sites at Upper Serangoon View (Parcels A & B)

[dtrax]

Kingsford Development won both!

$5,623 PSM of GFA for both.. so huatish

[CCR]

Kingsford Development won both!

$5,623 PSM of GFA for both.. so huatish

This is high right?
Boathouse sold for 391psf ppr?

How about those in Sengkang punggol plots? how much was it sold at?

[CCR]

breakeven at least 900psf ppr....

must sell at 1100psf ah?

Apparently the developers still doesnt believe proerty market will correct

[dtrax]

china company, so much money. Just throw some buy in 2 plots in sg is sup sup water?

[henryhk]

Ya, they can buy the whole danga bay, wat is two tiny plot!😁😁😁😁

[azeoprop]

Their hillview peak development still having stagnant sales. :rolleyes:

[dtrax]

Ya, they can buy the whole danga bay, wat is two tiny plot!😁😁😁😁

problem is the 22ha danga bay cost S$400mil and these 2 tiny plots cost S$490mil.. our land is so precious

[dtrax]

breakeven at least 900psf ppr....

must sell at 1100psf ah?

Apparently the developers still doesnt believe proerty market will correct

some experts say no 1.2k psf no talk

[ironmanpower]

Very bullish

[yowetan]

Hillview Peak is a flop. Period.

[Pro888]

Power sia. $522 psf ppr. Highest in that area.

Boathse $320
Riversound $391

[DuaNehNehChioBu]

Why so many here surprise ? Sua Ku...

Inflation in singapore is so COMMON...

You expect prices to come down ?

Can....Wait long long

[bargain hunter]

punish them. boycott them in all 3 projects.


Hillview Peak is a flop. Period.

[Simi]

Why so many here surprise ? Sua Ku...

Inflation in singapore is so COMMON...

You expect prices to come down ?

Can....Wait long long

Hi ChioBu

Agreed with you on the part that price will be difficult to come down

Just a humble request for you

放過 those nehneh not so tua liap ....ok ?

Thanks in advance :ashamed1:

[CCR]

So prices will, not drop I 2014 2015?

[henryhk]

I tink kings ford, see tat Malaysia property measures will chase the local investors back to Singapore, kaka put high bid! From the results, can see kingsford damn so hungry, the rest simply no fight!

[august]

Hillview Peak no worries. It will sell itself once the mrt line is up and running.

[CCR]

The other bids also not very low

[iridrium]

Crazy pricing. Not even near mrt, although quite near defu.

[princess_morbucks]

Intent to landback evident, says Colliers.
Kingsford Development Pte Ltd topped the bidding at both tenders for Upper Serangoon View Parcels A & B at $522 per sq ft per plot ratio for both sites, translating to $258.8 million and $201.6 million, respectively.
Colliers International said the notably higher bids -- Kingsford Development’s top bid for Parcel A is 16% above the second highest bidder and 24.9% above the third highest bidder; while for Parcel B, its bid is 12.7% and 15.8% higher than the second and third highest bids, respectively -- suggest the developer's plans.
"While the bids seem bullish amid current buying sentiments, it indicates the developer’s intention to land bank, to cement its position and to minimise price competition it could potentially face in the vicinity," said Chia Siew Chuin, Director of Research & Advisory at Colliers in a comment after the Urban Redevelopment Authority announced the tender closing for both sites.
At a land price of $522 per sq ft per plot ratio, the estimated breakeven cost for the proposed developments on both sites could range from $860-$920 per sq ft and the selling price could start from $1,000 per sq ft.
Chuin also drew attention to the number of bidders that flocked both tenders.
"Despite the slowdown in new private home sales as a result of the Total Debt Service Ratio (TDSR), the tenders for the two adjoining non-landed residential sites at Upper Serangoon View drew healthy interests from eight contenders each," she reckoned.
The tenders for both land parcels came after a two-month hiatus since the last private residential site located at Mount Sophia that was sold in September 2013.
- See more at: http://sbr.com.sg/residential-property/news/top-bids-upper-serangoon-parcels-b-reveal-developer-strategy?utm_source=twitterfeed&utm_medium=twitter#sthash.KvF72U2b.dpuf

[princess_morbucks]

http://www.ura.gov.sg/uol/land-sales-repository/sites-closed/%7E/media/User%20Defined/URA%20Online/land-sales/Sites/upp-serangoon-view-ab/images/upp-srgn-view-locmap.ashx

http://www.ura.gov.sg/uol/land-sales-repository/sites-closed/%7E/media/User%20Defined/URA%20Online/land-sales/Sites/upp-serangoon-view-ab/images/upp-srgn-view-aerialview.ashx

http://www.ura.gov.sg/uol/land-sales-repository/sites-closed/upp-serangoon-view-ab-cl.aspx

[玉格格]

Crazy pricing. Not even near mrt, although quite near defu.

it is not walkable to either mrt :doh:
developer is hungry :47:
1 bedder chao chao will sell abt $1350psf :scared-1:

[DC33_2008]

Chinese developer really going for the kill. :scared-2:

[princess_morbucks]

Can someone explain why the developer might be thinking of land banking?
What is the advantage?

[princess_morbucks]

Chinese developer really going for the kill. :scared-2:

Thanks for the info !

The company is owned by 3 Chinese Nationals according to this website :

http://singaporerealestatearena.com/little-known-company-offers-top-bid-for-hillview-site/

[radha08]

singapore=chinapore:scared-1::scared-1::scared-1:

[hyenergix]

Intent to landback evident, says Colliers.
Kingsford Development Pte Ltd topped the bidding at both tenders for Upper Serangoon View Parcels A & B at $522 per sq ft per plot ratio for both sites, translating to $258.8 million and $201.6 million, respectively.
Colliers International said the notably higher bids -- Kingsford Development’s top bid for Parcel A is 16% above the second highest bidder and 24.9% above the third highest bidder; while for Parcel B, its bid is 12.7% and 15.8% higher than the second and third highest bids, respectively -- suggest the developer's plans.
"While the bids seem bullish amid current buying sentiments, it indicates the developer’s intention to land bank, to cement its position and to minimise price competition it could potentially face in the vicinity," said Chia Siew Chuin, Director of Research & Advisory at Colliers in a comment after the Urban Redevelopment Authority announced the tender closing for both sites.
At a land price of $522 per sq ft per plot ratio, the estimated breakeven cost for the proposed developments on both sites could range from $860-$920 per sq ft and the selling price could start from $1,000 per sq ft.
Chuin also drew attention to the number of bidders that flocked both tenders.
"Despite the slowdown in new private home sales as a result of the Total Debt Service Ratio (TDSR), the tenders for the two adjoining non-landed residential sites at Upper Serangoon View drew healthy interests from eight contenders each," she reckoned.
The tenders for both land parcels came after a two-month hiatus since the last private residential site located at Mount Sophia that was sold in September 2013.
- See more at: http://sbr.com.sg/residential-property/news/top-bids-upper-serangoon-parcels-b-reveal-developer-strategy?utm_source=twitterfeed&utm_medium=twitter#sthash.KvF72U2b.dpuf

Possibly waiting for nearby MRT station to be announced.

[princess_morbucks]

Ya, they can buy the whole danga bay, wat is two tiny plot!😁😁😁😁

I tot Danga Bay is by another Chinese developer Country Garden?

[henryhk]

I tot Danga Bay is by another Chinese developer Country Garden?

I mean the mainland Chinese in general is aggressive and confident, no doubt about tat!

[玉格格]

come to tink of it $522psf ppr isn't exactly very expensive.
juz a couple of mth ago tampines ave 10 parcel b is awarded at $562psf ppr.

u guys tinki which loc is better?

[NO_7]

Can developer combine both plots of land to dev as 1 project?

SengKang west 2 plot of lands going to launch soon, and its the same river side living as these 2 plots, that's estimated $1200psf plus nearby LRT. This Serangoon plot not even near LRT stn, only good thing is the site facing river is much longer which many units can have a good view from their units.
Better than Waterfront at Bedok reservoir cos the river is on the west side of the plot, and soon fighter jet will be gone.
All 4 plots surely breaks Seng kang, Punggol and Serangoon view areas condo price record if not considering mix dev in this area.