Saturday, December 22, 2012

Two residential sites that would spur greater market attention

Clue: they aren't in the OCR.

Orange Tee Research & Consultancy notes that as with the past few GLS programmes, the majority of the sites are skewed towards to mid-low end housing market located in the Outside Central  Region (OCR) which is inline with market demand. However, two choice sites that could spur greater market attention are the site at Mount Sophia  (strategically located near Dhoby Ghaut MRT) slated for condominium development and another one at Coronation Road/ Victoria Park Road for landed housing, it said. 

"We expect the latter to draw great interest due to the lack of development sites for landed housing."

Here's more from Orange Tee:

Bidding for these sites is expected to be competitive. This is driven by demand from established developers in Singapore who are running low on development sites and new entrants who have been bidding aggressively in GLS tenders over the past year. This is especially so for EC sites given the strong demand for ECs. The most recent tender for an EC site at Sembawang received a total of eight bids with a winning bid of $323.76 per square foot per plot ratio (psf ppr). End user demand remains strong. For instance, the latest EC to hit the market, CityLife @ Tampines was more than three times subscribed at the close of its e-applications period.

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

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