A residential site at Sembawang Avenue has received only four bids. A consortium comprising FCL Tampines Court and KH Capital submitted the highest bid of about S$214 million for the 22,189.7 square metre site. That translates to a unit price of about S$320 per square feet per plot ratio (psf ppr). The second highest bid for the site came from a consortium that includes Verwood Holdings and TID...
Executive Condominiums (EC)
An executive condominium site in Sembawang has been made available for sale under the Government Land Sales Programme, the Housing and Development Board (HDB) said Thursday (May 29). The 99-year leasehold site, located at Sembawang Avenue, will yield an estimated 620 residential units, HDB said. The tender for the site will close at 12pm on July 10. Source : Channel NewsAsia - 29 May...
MCL Land (Brighton) submitted the highest bids for two 99-year leasehold sites for Executive Condominium (EC) development at Chua Chu Kang Grove. The two adjacent plots were put up for sale under the batch tender closing system, aimed at ensuring more prudent bids from developers. According to the Housing and Development Board (HDB), the first plot, Parcel A, attracted a total of seven bids. The...
A land site for an executive condominium (EC) development at Anchorvale Crescent has attracted 12 bids at the close of tender on Thursday. According to the Housing and Development Board (HDB), Phoenix Real Estate submitted the highest bid of S$192.89 million, which is 1 per cent higher than the second top bid of S$191 million from MCL Land. Phoenix Real Estate is a wholly-owned subsidiary of SGX...
Sales for executive condominiums (EC) slowed following new rules such as tighter loan rules for those buying EC units. Some agents said EC units, which are typically sold out in a year, may now need another year to hit 100 per cent sales. The Skypark Residences project released in November last year has sold only 60 per cent of its units so far. Another development, Waterwoods, launched in the...
A land site for an executive condominium (EC) development at Canberra Drive has attracted six bids at the close of tender on Tuesday. According to the Housing and Development Board (HDB), City Developments unit Verwood Holdings and its joint venture partner TID Residential has submitted the highest bid for S$226 million. That works out to about S$350 per square foot, per plot ratio (psf ppr). The...
Executive condominium (EC) developer MCC Land Singapore has rolled out a festive promotion in a bid to drive sales during the Lunar New Year period. The developer told Channel NewsAsia that it is offering a small price discount for EC units at Forestville at Woodlands and Sea Horizon in Pasir Ris. Forestville is developed by Hao Yuan Investment while Sea Horizon is jointly developed by Hao Yuan...
A land parcel at Westwood Avenue for executive condominium (EC) development has attracted 12 bids at the close of tender on Tuesday. The Housing and Development Board (HDB) said the top bid of S$198.9 million came jointly from Changi Properties and Heeton Homes. This translates to a land price of S$382 per square foot per plot ratio. The next highest bid of S$198 million is a joint tender from...
Property agents expect larger executive condominium (EC) units to be a tough sell following the implementation of the 30 per cent Mortgage Servicing Ratio (MSR) on December 10. Seven executive condominium projects were launched for sale in 2013. They offer a total of 3,337 units, of which 2,337 have been sold as of December 10. Of the remaining units, agents say 48 per cent are larger 4- and...
With a 30 per cent cap on how much house buyers can borrow to finance their executive condominiums (ECs), analysts expect developers to release more smaller-sized units for sale. However, sales for EC units are expected to slow down with the measures, especially since December is traditionally a lull period for the property market. Authorities have capped the Mortgage Servicing Ratio (MSR) for...