Among the four residential sites released under the Government Land Sales (GLS) Programme yesterday, the executive condo (EC) plot at Tampines Central 7 (pictured) next to The Tampines Trilliant development is the most appealing, according to consultants.
The four sites which could yield up to 2,415 homes were released in line with the strong February housing sales figures announced by the Urban Redevelopment Authority (URA), according to The Business Times.
“I think they want to send out the message that there’s enough supply. If there is demand, the government will release more land to support that demand,” said Ong Choon Fah, DTZ’s SE Asia Chief Operating Officer.
In a poll done by BT, property consultants unanimously voted the EC plot in Tampines as the most appealing among the four sites. But their predictions as to the possible winning bid ranged from S$280 to S$420 psf ppr, with an expected 10 to 13 bids.
The Tampines Trilliant site adjacent to it was sold for approximately S$392 psf ppr last April.
Launched last month, the project recorded an average price of S$803 psf for the 187 units released.
According to Donald Han, Special Adviser of HSR Property Group, the demand for ECs will remain strong, backed by the increase in the allocation limit for second-time buyers from five to 30 percent.
He expects the successful bid for the Tampines EC site to range between S$400 to S$420 psf ppr, higher than the adjacent site.
However, “economic conditions have moderated compared with a year ago and there will be ample new EC housing supply,” said Ong Kah Seng, Director at R’ST Research, who expects a top bid of about S$320 to S$360 psf ppr.
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