Revenue from government land sales fell 41 per cent to S$7.3 billion in the last fiscal year ended March 2009. But analysts said despite the decline for the full year, land prices have actually risen 30 per cent in the past six months and there are some concerns that this could lead to another property bubble. Showflats have been packing in the crowds for many months now. Demand for land has also picked...
Land Sales
The Urban Redevelopment Authority (URA) received 15 bids at the close of the tender for the residential site at Serangoon Avenue 3 on Wednesday. The site, which was originally on the Reserve List of the Government Land Sales Programme, was launched for public tender on September 9. The 99-year leasehold site has an area of about 13,877 square metres and a maximum permissible gross floor area of 38,857...
Property developers in Singapore are calling for the government to release more land sites in less central areas so that they can build more affordable mass market homes. On the sidelines of a lunch hosted by the Real Estate Developers' Association of Singapore (REDAS) on Friday, industry players said demand for private homes will continue to rise and push up prices. It said most of the recent...
The government has accepted an application from a developer to put up a residential site at Upper Thomson Road for public tender. The land parcel is near Lower Peirce Reservoir Park and Bishan Park. With a site area of about 2.08 ha, the land parcel can generate a maximum permissible gross floor area of 43,781 sqm. It is being offered under the Reserve List of the Government Land Sales programme. Under...
The Urban Redevelopment Authority has awarded the tender for the commercial and residential site at Yio Chu Kang Road and Seletar Road to Far East Square. The company submitted the highest bid in the tender for the site at S$119 million. This translates to about S$376 per square foot. The tender for the commercial and residential site was launched on August 20, on a 99-year lease. Source : Channel...
Credit Suisse says bid spread shows developers wary SHARP differences in bid prices offered by developers in the latest Urban Redevelopment Authority tender for a residential-commercial site at Yio Chu Kang suggest that the Government's recent measures to cool the housing market are starting to take effect, said financial services firm Credit Suisse. The tender closed on Thursday, drawing a total of 12...
Far East Organisation has submitted the highest bid of S$119 million for a commercial and residential site at the junction of Yio Chu Kang Road and Seletar Road. This is nearly 3 times the minimum bid price of S$40.5 million. Far East's bid translates to about $364 per square foot. Centurion RE submitted the second highest bid at S$88.19 million, followed by Frasers Centrepoint's offer of S$80.13...
The Housing & Development Board (HDB) has withdrawn a commercial site in Tampines from the reserve list system. The site, located at Tampines Concourse, was originally proposed for commercial development. HDB said the site was withdrawn from the list as it will be affected by future infrastructure works. The site has an area of about 5,000 square metres and a total gross floor area of some 21,000...
A developer has committed to bidding at least S$83.7 million for a residential site at Serangoon Avenue 3. The 1.39-hectare land parcel is located near Lorong Chuan MRT station and Nanyang Junior College. The 99-year leasehold site has a maximum permissible gross floor area of close to 39,000 square metres. The Urban Redevelopment Authority will launch the tender for the site in about two weeks under...
The Housing and Development Board (HDB) has received 13 bids for the land parcel at Chestnut Avenue at the close of its tender on Wednesday. The land parcel has a site area of 22,700 square metres, with a maximum allowable gross floor area of 47,670 square metres. It is set aside for condominium housing, with a lease period of 99 years. Sunny Vista Developments and Hong Realty have jointly submitted the...