27/07/2017
From Bernard Lee (Huttons):
A strong turnout for the GLS site at Serangoon North Ave 1 with 16 bidders, matched by bullish highest bid of $965 psf ppr from JV between Keppel and Wingtai.
Developers seem to be trying to outdo each other in their land bid prices. The highest bid is 16% higher than the price put in for the Serangoon Ville enbloc, and 36% higher than the land price for Forest Woods.
This works out to a breakeven price of just below $1,400psf and a potential selling price of around $1,700psf. It is hard not to believe prices will be up!!
http://www.straitstimes.com/business/whats-the-top-bid-of-s44628-mil-for-serangoon-north-avenue-1-private-residential-site