20/04/2016
SINGAPORE: A land parcel at Anchorvale Crescent for an executive condominium (EC) housing development attracted just three bids at the close of the tender on Tuesday (Jan 20), attesting to weaker sentiment in Singapore's housing market.
Mr Nicholas Mak, executive director for research & consultancy at SLP International Property Consultants ... noted that Sim Lian will be able to launch the EC project at S$640 per square foot to S$660 per square foot, undercutting the other launched EC projects in that location.
"The number of bids reflects the current sentiment of the EC market, particularly in the Northeast region. It is not surprising given that there are now a record 2,000 vacant EC units that have been launched and remain unsold islandwide as at December 2014," added Mr Desmond Sim, head of CBRE Research, South East Asia."
Extracts from CNA dated 20 Jan 2015