03/10/2018
MCL Land had just closed an en-bloc deal with another record offer price of S$765m (S$909 psf ppr including the estimated differential premium) for Eunosville HDUC estate. The price is 19% higher.
DBS treasures, estimated the break even price to be S$1,400 psf, which means that the launch price could be close to S$1,600 psf, assuming a target margin of 10%.
Looking at recent en-bloc deals and land bids, we believe that developers seem to be pricing in a price recovery in 2018, implying the bullish sentiment towards land-banking good quality sites in Singapore.
