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Thread: Lowest EC land bid so far this year at 270psf ppr

  1. #1
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    Default Lowest EC land bid so far this year at 270psf ppr


  2. #2
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    Tender for Punggol EC site receives only three bids
    By Ryan Huang | Posted: 07 July 2011 2013 hrs


    SINGAPORE : A tender for a land site to build a Executive Condominium (EC) at the junction of Punggol Way and Punggol Field has received only three bids.

    This is according to provisional results released by the Housing and Development Board.

    The highest bid was at S$219.47 million, from FCL Tampines Court and Keong Hong Construction.

    This works out to S$270 per square foot per plot ratio for the site.

    According to Colliers International, this is also the lowest unit land price achieved for an EC site thus far in 2011.

    "This indicates further moderation of developers' expectations amid current market uncertainties pending clearer policy directions from the government, "said Chia Siew Chuin , Director for Research and Advisory at Colliers International.

    She added: "Based on a land cost of S$270 per square foot per plot ratio and average selling prices of around S$690 per square foot for newer EC developments in the locality, new units at the site are likely to breakeven at about S$540 per square foot. This cautious bidding and the resulting lower land cost would provide the developer a buffer should the market soften going forward."

    The lowest bid was from EL Development at S$177 million, behind CEL Development at S$218 million.

    The 270,865 square feet site can potentially yield about 720 units.

    The winner of the tender will be announced at a later date.

    - CNA/ms

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    Punggol really has way too many residential units.....

    Selective bidding from developers.

    Store ammo for better sites that have real demand.

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    yah, look at the map attached on hdb link. lots more to come with public mixed with private etc.

    Quote Originally Posted by solsys
    Punggol really has way too many residential units.....

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    quite surprised.. considering this is 500m from MRT and their future megamall.. hmm.. strange..

  6. #6
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    Quote Originally Posted by linchong84
    quite surprised.. considering this is 500m from MRT and their future megamall.. hmm.. strange..
    The px is reasonable but duno y only 3bids....

    Mabe too many gls liao...

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    Quote Originally Posted by devilplate
    The px is reasonable but duno y only 3bids....

    Mabe too many gls liao...
    That means EC market is going down. Prive land site is around 310-320psf. This one same characteristic as Prive (equal distance to MRT), yet 270psf only.

    Hard to understand, considering that govt might increase EC ceiling to 12k, and EC lands should have been more popular?

  8. #8
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    Quote Originally Posted by linchong84
    That means EC market is going down. Prive land site is around 310-320psf. This one same characteristic as Prive (equal distance to MRT), yet 270psf only.

    Hard to understand, considering that govt might increase EC ceiling to 12k, and EC lands should have been more popular?
    Especially dbss oredi stop for the time being....8-10k can only apply ec now...

    Perhaps ec profit margin low....price oredi capped at 750psf max..anything higher cfm tio bash....so developer store power for condo sites instead? Shall see

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    yup.. agree with devilplate.... developer don't dare to bid too high for EC... drawing too much attention.... got so many gls coming up... surely there will be a place to throw their money at...

  10. #10
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    Whatever it is, FCL got a good buy. If they can sell at or above 700 psf, they will make a tidy profit.

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