Singapore EC Site Released In 2018 Expected To Fetch Up To 18 Bids

The joyful season usually corresponds to a decrease in real estate task. Yet this year in contrary, the land sales market seems to be revving up instead. Cumulative sales as well as land sales going strong. Sales of land both directly from the federal government as well as in the economic sector are going solid. The authorities have simply introduced an exec condominium (EC) website in Punggol under the Government Land Sales (GLS). Property experts anticipate the site will invite intense bidding process with greater than 12 designers gunning for it.

The EC market has actually been silent generally of the year with just 1 more job yet to be released the Rivercove Residences in Anchorvale Lane. As the number of unsold ECs have been on the decline, interest in this segment is expected to climb as supply dwindles. The 99 year leasehold site in Sumang Walk is the only EC site released under the GLS program this year. According to the Housing Board (HDB), it can possibly generate 820 houses. Approximately 18 proposals expected for EC site. Home experts approximate this 27,056.4 sq m site to get quotes ranging in between $358 to $385 million or $410 to $440 psf ppr. The Urban Redevelopment Authority (URA) lately introduced 2 sites under the GLS program were property sites in Chong Kuo Road and also Handy Road. All 3 tenders close at twelve noon on Jan 30. To understand more in depth, you can go to this link