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Thread: Where to find Private Condo less than $1000 psf.

  1. #1
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    Default Where to find Private Condo less than $1000 psf.

    Not easy to find less than $1000 psf condo soon. Bought mine 899 psf in 2011.

    The top bid is in line with last years’ winning EC tenders at Sumang Walk ($583 psf ppr), Canberra Link ($558 psf ppr), and Anchorvale Crescent ($576 psf ppr), Tampines Ave 10 (578 psf ppr)


    The tender has closed for the Executive Condominium site at Tampines Ave 10. The 268,384 sq ft site attracted seven bids, says HDB. The future development could comprise up to 695 units and will have a maximum Gross Floor Area of 751,482 sq ft.


    The highest bid came from Hoi Hup Realty and Sunway Developments, a subsidiary of Malaysian group Sunway Berhad. The two companies jointly submitted a bid of $434.45 million for the site, or $578 psf/per plot ratio (ppr). The second highest bid came from Chinese developer MCC Land, which submitted a bid of $431.62 million ($574.36 psf/ppr). This is a 0.7% margin between the top two bids.

    https://www.edgeprop.sg/property-new...jbcx6PGCT5bNo#


  2. #2
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    Canberra Link

    Although interest in the Canberra Link EC site remained healthy with nine bidders, it pales in comparison to the 17 bids received for the last EC site at Sumang Walk that closed in February.

    The top bid of $271 million for the Canberra Link site came from a joint venture between Hoi Hup Realty and Sunway Developments, and translates to a land rate of $558 psf ppr. This was just 4.3% lower than the $583 psf ppr paid by City Developments and TID for the Sumang Walk site, says JLL’s Tay. She reckons developers have taken into consideration the additional 5% non-remittable additional buyer’s stamp duty (ABSD) they have to pay for sites acquired after July 5.

    ZACD’s Mak estimates the breakeven price for the EC site at Canberra Link to be in the $970 tp $1,020 psf range. The bullish bid reflects their confidence in the EC market, which is partly attributed by the strong sales at Rivercove Residences in Sengkang. Launched in April, the 628-unit Rivercove Residences saw 80% of the units snapped up at an average of $965 psf, and as at end June, only one unit was still available, adds Mak.

    The government has not launched any EC sites in the Sembawang area since Oct 2014 when the site at Canberra Drive was sold. The site at Canberra Drive had only attracted two bids, and the average price then was $353 psf ppr, says Lee Nai Jia, Knight Frank Singapore head of research. The site has since been launched by developer Qingjian Realty as the 632-unit EC project The Visionaire.

    “The EC market continues to generate healthy interest,” adds CBRE’s Sim. This segment that caters for the ‘sandwiched class’ remains limited in stock, with less than 20 units unsold as of end 2Q2018, he notes.

    The fact that the top bidders for all three GLS sites are “companies involved in construction” means that they will be able to economize in the construction cost of their developments, says ZACD’s Mak.

  3. #3
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  4. #4
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    all the 4 new ECs will need to be sold FROM 10xxpsf

  5. #5
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    $578psf/ppr for EC

    $676psf/ppr for TAT - Treasure At Tampines

    Previous TT - The Tapestry @ $565psf/ppr

    15 months time bar means will be launched in around Apr 2020


    TT - The Tapestry
    TAT - Treasure At Tampines

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