15/09/2022
Based on the most recent Government Land Sales bidding on 13 September 2022, the top bids for 2 private sites at Lentor and 1 EC site at Bukit Batok were concluded.
✅ Lentor Central site – S$1,108 psfppr with an estimated breakeven price of S$1,810 psfppr
✅ Lentor Hills Road Parcel B – S$1,130 psfppr with an estimated breakeven price of S$1,838 psfppr
✅ Bukit Batok West Ave 5 EC site – S$626 psfppr with an estimated breakeven price of S$1,089 psfppr
Compared with the recent other Government Land Sales, how have prices differed?
ℹ Lentor Hills Road Parcel A was bidded at S$1,060 psfppr with an estimated breakeven price of S$1,749 psfppr.
ℹ Copen Grand EC along Tengah Garden Walk was bidded at S$603 psfppr with an estimated breakeven price of S$1,059 psfppr, launching in October 2022.
ℹ Tenet EC along Tampines Street 62 (Parcel A) was bidded at S$656 psfppr with an estimated breakeven price of S$1,131 psfppr.
ℹ Bukit Batok West Avenue 8 EC site was bidded at S$662 psfppr with an estimated breakeven price of S$1,134 psfppr.
Taking the recent new launches into reference, what do you think the future selling prices will be?
🤩 Lentor Modern along Lentor Central was bidded at S$1,204 psfppr with an estimated breakeven price of S$1,933 psfppr. Launched on 17 September 2022, 84% of its 605 units were sold with prices ranging from $1,856 psf to $2,538 psf.
🤩 AMO Residence along Ang Mo Kio Avenue 1 was bidded at S$1,118 psfppr with an estimated breakeven price of S$1,822 psfppr. Launched on 23 July 2022, 98% of its 372 units were sold at an average selling price of approximately S$2,100 psf.
🤩 Piccadilly Grand along Northumberland Road was bidded at S$1,129 psfppr with an estimated breakeven price of S$1,837 psfppr. Launched on 7 May 2022, 77% of its 407 units were sold at an average selling price of approximately S$2,150 psf
🤩 North Gaia EC along Yishun Avenue 9 was bidded at $576 psfppr with an estimated breakeven price of S$1,025 psfppr. Launched on 23 April 2022, the average selling price works out to be S$1,302 psf with approximately 62% of the sold units having opted for the deferred payment scheme.
The benchmark has been set; the rising Government Land Sales prices with rising costs and increasing prices; with an estimated 15%-20% profit margin, what will the future lies?
STATE tenders for 2 private housing sites near Lentor MRT station and an executive condominium (EC) site along Bukit Batok West Avenue 5 have fetched fewer bids than had been forecast by most property consultants. Read more at The Business Times.
