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Thread: Some 150 developers bid aggressively for 14 land parcels at Sembawang

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    Default Some 150 developers bid aggressively for 14 land parcels at Sembawang

    Some 150 developers bid aggressively for 14 land parcels at Sembawang
    By Travis Teo | Posted: 28 October 2010 2232 hrs

    SINGAPORE : There are no signs of cooling in the private property market as some 150 developers bid aggressively for the 14 land parcels at Sembawang Greenvale.

    This is the last phase of the sale at the Sembawang estate.

    The first two phases - Phase 1 and Phase 2 of Sembawang Greenvale - were sold in October 2007 and April 2008.

    This is the first time since April 2008 that the Urban Redevelopment Authority is conducting an auction for private home land sales.

    The 14 land parcels at Sembawang Greenvale estate that were up for auction can accommodate about 115 landed properties.

    Each land parcel received about 50 bids. The winning bids ranged between S$2.25 million and S$26.15 million.

    Nicholas Mak, executive director, Research & Consultancy, SLP International Property Consultancy, said: "Some of the small developers are very confident of the landed housing market in the months ahead ... (as seen by) the aggressive bidding that they have demonstrated and also the high land prices that they are willing to pay.

    "So I think going forward, this segment of the market will be quite resilient even to the recent government cooling measures."

    - CNA/al
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    even ulu sembawang so hotly contested...

    tats goes my landed dreams

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    Quote Originally Posted by devilplate
    even ulu sembawang so hotly contested...

    tats goes my landed dreams

    do you think Luxus hill ? those landed at AMK ave 5 and YCK road ... you think they are selling well ?

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    Quote Originally Posted by proud owner
    do you think Luxus hill ? those landed at AMK ave 5 and YCK road ... you think they are selling well ?
    luxus is clustered housing rite? nvr bio there...a top producer agt bot a unit there for own stay(reported in the news)...so shd be good?

    their latest phase more den 1kpsf land...wow

    4 Seletar Green Walk
    999 Yrs From 01/01/1879
    $1363
    1615
    $2200k
    08 Sep 10
    56 Seletar Green Walk
    999 Yrs From 01/01/1879
    $1239
    1615
    $2000k
    29 Jul 10


    WOWOWOW....
    Last edited by devilplate; 28-10-10 at 23:45.

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    Even 99LH landed at ulu places are hot! Worry about garmen's next cooling measure.

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    Have you looked at Sennett Estate in D13?
    Quote Originally Posted by devilplate
    even ulu sembawang so hotly contested...

    tats goes my landed dreams

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    hmm...I walk pass there at least twice a week...

    a bit old and the tenant mix there CMI...cannot comment too much...else get flamed...



    Quote Originally Posted by DC33_2008
    Have you looked at Sennett Estate in D13?

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    its not clustered housing. its landed. so anything with a small piece of land built up to 3 storey + basement or more is sold for 1kpsf. no big deal. nothing to wow. lol.


    Quote Originally Posted by devilplate
    luxus is clustered housing rite? nvr bio there...a top producer agt bot a unit there for own stay(reported in the news)...so shd be good?

    their latest phase more den 1kpsf land...wow

    4 Seletar Green Walk
    999 Yrs From 01/01/1879
    $1363
    1615
    $2200k
    08 Sep 10
    56 Seletar Green Walk
    999 Yrs From 01/01/1879
    $1239
    1615
    $2000k
    29 Jul 10


    WOWOWOW....

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    Quote Originally Posted by bargain hunter
    its not clustered housing. its landed. so anything with a small piece of land built up to 3 storey + basement or more is sold for 1kpsf. no big deal. nothing to wow. lol.
    haha....fragrance put in a winning bid of 640psf....i tink the plot nearest to the sea...power la..


    now developers all using built-in psf to sell landed homes liao...and claimed 5xxpsf still half price of greenwich which is 99LH somemore

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    if its clustered then technically they are justified becoz both are strata area mah. but at the end of the day, buyers just have to be discerning themselves and buy what is of value to their own perception and not becoz of such gimmicks.

    Quote Originally Posted by devilplate
    haha....fragrance put in a winning bid of 640psf....i tink the plot nearest to the sea...power la..


    now developers all using built-in psf to sell landed homes liao...and claimed 5xxpsf still half price of greenwich which is 99LH somemore

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    I think you went to the wrong place in sennett. There are large semi-Ds that are slightly further away from the station.

    Quote Originally Posted by gohsoonk
    hmm...I walk pass there at least twice a week...

    a bit old and the tenant mix there CMI...cannot comment too much...else get flamed...

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    Quote Originally Posted by devilplate
    haha....fragrance put in a winning bid of 640psf....i tink the plot nearest to the sea...power la..


    now developers all using built-in psf to sell landed homes liao...and claimed 5xxpsf still half price of greenwich which is 99LH somemore
    SEmbawang cove plus mrt stn, get the drift?

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    I still think large units in quiet suburbia still has its charms and strong demand. The primary launch market is getting interesting. The entire market is converging in terms of absolute pricing. CBD/prime areas focus on shoebox units with high PSF and somewhat underwhelming absolute quantum, many not exceeding $2 million. Suburbs is still dominated by spacious 3 bedders with absolute quantum now in the same region and sometimes exceeding prime/CBD. It is not longer kosher to stereotype people staying in Sembabwang as "low income" like what most property experts would do today. It's just how much personal space do you need - and that will decide where you choose to stay.


    Suburbia

    Let's take a ride and run with the dogs tonight
    In suburbia.
    You can hide and run with the dogs tonight
    In suburbia

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    Quote Originally Posted by Wild Falcon
    I still think large units in quiet suburbia still has its charms and strong demand. The primary launch market is getting interesting. The entire market is converging in terms of absolute pricing. CBD/prime areas focus on shoebox units with high PSF and somewhat underwhelming absolute quantum, many not exceeding $2 million. Suburbs is still dominated by spacious 3 bedders with absolute quantum now in the same region and sometimes exceeding prime/CBD. It is not longer kosher to stereotype people staying in Sembabwang as "low income" like what most property experts would do today. It's just how much personal space do you need - and that will decide where you choose to stay.


    Suburbia

    Let's take a ride and run with the dogs tonight
    In suburbia.
    You can hide and run with the dogs tonight
    In suburbia
    so many MM built, that many MM sold.... will there be a increase in stray dogs ?

    many single couples have pet dogs... and MM unit is a cruelty to apt dogs ..

    i see many giving up their dogs .. when they move into MM LUXURIOUS condo ...

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    small timers have enough experience to build landed, probably that's the reason for the number of bidders. but the small timers probably haven't experience the big market swings like how wing tai and citydev were caught previously. if they get the cost wrong, it could go very very wrong.

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    Quote Originally Posted by kane
    small timers have enough experience to build landed, probably that's the reason for the number of bidders. but the small timers probably haven't experience the big market swings like how wing tai and citydev were caught previously. if they get the cost wrong, it could go very very wrong.
    whoever the developer is ..Luxus hill is still not fully sold ...


    the row of landed by Allgreen along jurong town hall towards teck whye ..also took a long time to sell ...

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    luxus is by bukit sembawang. this is their legacy landbank that's why they are selling slowly. actually, its quite well received and the reason why not fully sold is they are selling slowly.

    allgreen is doing the same for that bukit batok piece of land. sell slowly. there is demand but not my cup of tea. the one that is not selling is the Tan Chong one called Oasis @ Mulberry at Sennett Estate (the district 13 one near mcpherson). aircraft hanger like design, terraces. taking ages after TOP to tell. hee.



    Quote Originally Posted by proud owner
    whoever the developer is ..Luxus hill is still not fully sold ...


    the row of landed by Allgreen along jurong town hall towards teck whye ..also took a long time to sell ...

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    Cooling measure for landed? Very easy lah, don't approve PR to buy landed can already (all in their power to do so since PR needs to specially seek permission to buy from Govt). If they do so, price sure dropped like stone since Singkies esp younger generation prefer high-rise condos - the higher the better and there will be very few demand for landed!

    Quote Originally Posted by DC33_2008
    Even 99LH landed at ulu places are hot! Worry about garmen's next cooling measure.

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    http://www.businesstimes.com.sg/sub/...10747,00.html?

    Published October 29, 2010

    Bullish bids for Sembawang landed plots

    Most winning offers for the 99-year leasehold sites range from $500-$600 psf

    By UMA SHANKARI


    A GOVERNMENT land auction of 14 landed housing plots in Sembawang drew fierce bidding and bullish top offers as developers demonstrated their confidence in the landed housing market.

    Most of the winning bids for the 99-year leasehold sites fell within the range of $500-$600 per square foot (psf), more than double the price that adjacent sites went for in two previous rounds of land auctions held in October 2007 and April 2008.

    Yesterday, 11 out of the 14 sites that went under the hammer sold for more than $500 psf, with two sites even selling for $620 psf and $640 psf each. The sites sold yesterday were offered as phase three of Sembawang Greenvale at Sembawang Road and Wak Hassan Drive.

    By contrast, data compiled for BT by Savills Singapore showed that in the last two rounds of public auctions, 22 out of the 23 sites offered under phases one and two of Sembawang Greenvale sold for $150-$300 psf. The remaining site was sold for $327 psf.

    The Urban Redevelopment Authority (URA) also said there were 97 registered bidders yesterday, compared to just 16 at the last auction in April 2008.

    Nicholas Mak, executive director of SLP International Property Consultants, noted that since April 2008, the average price of landed properties has increased by some 25 per cent while the average price of non-landed houses rose by only about one-tenth of that amount. And in the past one and a half years, the demand for landed houses had also increased strongly. 'The pent-up demand coupled with the limited supply contributed to the strong bidding in today's auction,' Mr Mak said.

    The new envelop control development guideline for landed housing, which allows developers greater flexibility in the design and development of projects - and possibly some cost savings as well - could have also attracted more interest to the sites, he added.

    All of the sites that went under the hammer yesterday were hotly contested with each plot drawing 50 bids on average. One site even drew 159 bids.

    A large number of would-be bidders walked out of the packed auditorium at URA Centre after the first two sites were sold, citing the high prices. But most developers were good natured and often applauded the winning offers.

    JBE Holdings, which won five of the 14 sites on offer, was one of the most competitive bidders. The company, which is owned by Christina Sui Fong Fong, has built Luxe Ville at Pasir Panjang Road, The Luxe at Handy Road and terrace houses in Sembawang.

    Other successful bidders included Fragrance Group. The listed property group won two sites, including the most expensive - it paid $26.15 million for a 40,860 sq ft plot on which a potential 20 landed homes can be built.

    Analysts expect prices of landed homes to climb more than that of non-landed housing next year on the back of limited supply. Noted one market watcher: 'We can be sure that prices in that part of Sembawang, at least, will climb after today's bids.' Presently, 99-year leasehold landed homes near Sembawang Greenvale are selling for around $700-$900 psf.

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    http://www.straitstimes.com/Money/St...ry_596603.html

    Oct 29, 2010

    Record bids for Sembawang land

    Fourteen plots hotly contested, with 97 bidders registered

    By Esther Teo


    BIDDING was fast and furious yesterday as 14 land parcels along Sembawang Road earmarked for landed homes sold for $134.55 million, with prices hovering at record highs for the area. The hotly contested sites attracted an average of 50 bids each.

    Analysts say a key factor for the keen interest was newly introduced flexible guidelines on building designs.

    For instance, basements may protrude above the ground to let in more light.

    Nine of the land parcels are being pilot-tested for the modified set of landed housing guidelines.

    The auction by the Urban Redevelopment Authority (URA) of Phase Three of Sembawang Greenvale - right on the Johor Straits - attracted strong interest, mostly from smaller developers and individuals who turned up at the URA Centre in Maxwell Road.

    A total of 97 bidders registered, more than six times that for the auction held for Phase Two in April 2008, which drew only 16 bidders.

    Prices of the latest plots were $546 per sq ft (psf) of land area on average - more than double the previous phase's average of $223 psf, testament to the strong landed housing recovery.

    The URA sold another 12 plots in nearby Phase One in October 2007 for about $285 psf on average.

    The 99-year-leasehold plots - able to yield about 115 landed homes - include individual bungalow lots, small streetblock parcels each able to yield four to 17 terrace and semi-detached houses, and one parcel for a strata landed housing development.

    Boutique property developer JBE Holdings, whose projects include Luxe Ville at Pasir Panjang Road and The Luxe at Handy Road, emerged tops, sweeping five sites - able to yield 39 terraces - for $43.35 million, or at $514 psf.

    However, it also lodged the lowest winning bid of $443 psf, which worked out to a $7.16 million bid, for a 1,500sqm site on Penaga Place. The plot is able to yield six terrace units.

    Fragrance Homes clinched the largest 3,796sqm site on Wak Hassan Drive, which can be developed into strata-landed or landed housing, for $26.15 million - a whopping $640 psf, the highest psf price.

    Other successful bidders include Goodland Homes, MCS Development, Techcom Construction and Trading, and Sunway Developments.

    However, the high prices also meant that some potential property investors went away empty-handed.

    BuildTech Construction's W.P. Lim said he decided to try his hand at the auction as prices in the landed homes segment have skyrocketed in the past year. 'I was hoping to be able to develop some of the smaller sites to get some margins but prices are too high now, they are double that of the last round,' he said.

    Experts say that the pent-up demand for landed homes, coupled with the limited supply, contributed to the strong bidding.

    SLP International Property Consultants executive director Nicholas Mak that with the average price of landed properties rising by some 25 per cent since April 2008, developers are very confident of the landed housing market next year.

    'Another factor that contributed to the fierce bidding today is the new...development guideline for landed housing, which allows the developer greater flexibility in the design and development, and possibly some cost saving as well,' he added.

    Under the new guidelines, the URA will fix only the overall size of the house and do away with guidelines on internal features. Architects will gain more leeway in terms of the building's interior dimensions.

    For instance, existing guidelines for the sites will be relaxed so homes built there can be four storeys, up from a limit of three now. Other options include loftier living rooms and more compact bedrooms.

    According to URA data, landed home prices have surged by 24 per cent since the start of this year.

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    http://www.todayonline.com/Business/...Greenvale-site

    Developers in fierce competition for Sembawang Greenvale site

    by Travis Teo

    05:55 AM Oct 29, 2010


    SINGAPORE - The private landed-property sector shows no sign of cooling, with nearly a hundred developers vying for a piece of the Sembawang Greenvale site.

    Held by the Urban Redevelopment Authority yesterday (URA), the auction saw fierce bidding for the 14 land parcels at the site.

    Winning bids fetched between $2.25 million and $26.15 million at URA's first landed-property land-sales auction in more than two years.

    The land parcels range from 417 sq m to nearly 3,800 sq m and can potentially yield about 115 landed housing units.

    On average each parcel received about 50 bids, with each bid adding between $20,000 and $50,000 to the price.

    Analysts said that winning prices were higher then they had expected.

    They said this is due to strong pent-up demand from developers in the landed-property segment.

    "From today's auction's results we can see that some of the small developers are very confident of the landed housing market in the months ahead," said Mr Nicholas Mak, executive director of research and consultancy at SLP International.

    "Going forward, this segment of the market will be quite resilient, even with the recent government cooling measures," he added.

    The winners were mostly smaller developers and construction firms.

    They were drawn to the sites as they have the flexibility to pre-design and manufacture the homes off-site and put them together on-site.

    "We are going to use a pre-cast concept, so that we can come up with the building in a very short period," said Mr Vincent Chua, managing director of Techcom Construction & Trading, adding that he aimed to complete the project in six to nine months.

    Analysts said developers will build terrace houses that will likely fetch up to $2.2 million, while bungalows will fetch up to $4 million each.

    Industry watchers expect private home prices to rise by 32 to 38 per cent this year.

    In light of the highly favourable response, analysts expect the URA to organise more private land-sales auctions, if more land becomes available.

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