Durian like that how to drop.

[Arcachon]

http://www.propertyguru.com.sg/prope...draws-14-bids-

A residential site at Lorong 6 Toa Payoh and Lorong 4 Toa Payoh has received strong interest from developers, attracting 14 bids at the close of its public tender exercise on Thursday, revealed the Housing and Development Board (HDB).

Desmond Sim, head of CBRE Research for Singapore and South East Asia, said this is unsurprising considering the site’s location within a well-established estate with very few private residential projects.

A consortium comprising Evia Real Estate, Greatearth Pte Ltd and Gamuda Berhad submitted the highest bid of $345.86 million, followed by Sing Holdings with a $342.1 million offer.

The gap between “the winning bid and the next highest is a close call of only 1.1 percent – the lowest gap we have seen since Q2 2014 when a site at Choa Chu Kang Drive was awarded to Sim Lian Land at a margin of 2.2 percent over the next bidder,” stated Dr Chua Yang Liang, JLL research head for South East Asia.

Christine Li, director of research at Cushman & Wakefield, said the top bid indicated that land prices around the area have held up despite tepid sales in the new homes market. In fact, it was very much in line with the bullish bid achieved at the Lorong Puntong site in Upper Thomson last August.

Since there have been no new private residential launches within the area since 2009, Li expects the project to be well-received by first-time buyers and upgraders if priced realistically.

“The breakeven price of the project is around $1,250 psf and we expect sales to start at around $1,450-1,500 psf,” she shared.

Founded in 2010, Evia has launched three executive condominium projects in Singapore – Watercolours in Pasir Ris (2011), Heron Bay in Upper Serangoon (2012) and the record-breaking Lake Life in Jurong Lake District (2014).

“Similar to Jurong, we believe that there is a pent-up demand for private housing in this area, as it is one of the most populated public housing estates in Singapore, and is the closest estate to the city,” said Vincent Ong, Managing Partner of Evia Real Estate.

“Having launched three successful executive condominiums in the past, we are confident that we will be able to continue providing buyers with excellent quality homes that are not only a sound investment choice, but a vibrant and attractive home for the family.”

Image: Map of Toa Payoh site. (Source: HDB)

[Arcachon]

http://propertylaunch-invest.com/pro...yoh-condo.html

SINGAPORE: A residential site in Toa Payoh drew 14 bids at the close of the auction on Thursday (Jun 18), indicating strong demand from developers for sites in mature housing estates.

The Housing and Development Board (HDB) said the 12,154.6 square metre, 99-year leasehold site at the junction of Lorong 6 and Lorong 4 Toa Payoh attracted a top bid of S$345.86 million from a group that includes Evia Real Estate, Greatearth and Malaysia's Gamuda Bhd.

This works out to around S$8,130 per square metre of gross floor area, or about S$755 per square foot.

The site can yield around 535 private residential units. Alternatively, developers may, with prior written approval, build a mix of flats and strata landed houses.

Mr Desmond Sim, head of CBRE Research for Singapore and Southeast Asia, said the strong demand was "unsurprising" given the site's location within a well-established mature estate with very few private residential projects. The site is also within walking distance of the Braddell MRT station.

JLL's head of research in Southeast Asia Chua Yang Liang said the gap between the winning bid and the next highest is only 1.1 per cent. That is the closest gap since the second half of 2014, when a site at Choa Chu Kang Drive was awarded to Sim Lian Land at a margin of 2.2 per cent over the next bidder, said Dr Chua.

HDB, as the Government’s land sales agent, had launched the site for public tender on Apr 29.

A decision on the award of the tender will be made at a later date after the bids have been evaluated, HDB added.

- CNA/ek

http://www.skyscrapercity.com/showthread.php?t=358211

A deal has yet to be inked but assuming the property fetches $46 million, the price works out to about $233 per square foot of potential gross floor area. That includes development charges (DC) and a premium to top up the site's lease to 99 years.

Very scary when you know what is money.

755/233 = 3.24

535,000 x 3.24 = 1,733,583

Southbank 958 sqft selling below 1,733,583 is a good buy. How many can still buy when the durian drop.

[Arcachon]

http://www.propertyguru.com.sg/listi...sale-southbank

S$ 1,499,000
S$ 1,564.72 psf (built-up)
958 sqft / 89 sqm (built-up)
881 North Bridge Road, 198784 Beach Road / Bugis / Rochor, City & South West (D01-08)