Saturday, April 20, 2013

Four land plots for 1,800 homes up for sale


The Straits Times  |  16 April 20, 2013

Four residential sites that can yield about 1,800 homes in all go up for sale this month, the Housing Board said yesterday.

One executive condominium (EC) parcel in Anchorvale Crescent and two private residential plots - in Fernvale Close and Faber Walk - went on the market yesterday. A fourth plot, an EC site in Punggol Central, will be launched on April 29.

All four are on the confirmed list under the Government Land Sales (GLS) programme for the first half of this year. The 23,000 sq m Anchorvale Crescent EC site and the Punggol EC site are each expected to draw around five bids at prices between $300 and $350 per sq ft per plot ratio.

Analysts said the Fernvale Close site is more attractive than the Faber Walk one given its wide view of the Punggol River.

SLP International research head Nicholas Mak said a realistic valuation for the 14,930.5 sq m Fernvale Close site was about $450 to $470 psf pprbut the top bid could range from $500 to $520 psf ppr. The 15,125.4 sq m Faber Walk site in Telok Blangah is expected to garner five to seven bids at prices ranging from $430 to $500 psf ppr.

The tender for the 13,564.8 sq m Punggol Central EC site has had its closing date extended to coincide with the tenders of two upcoming EC sites, one in Punggol Drive and the other in Yuan Ching Road in Jurong.

These two EC sites will be launched in June on the confirmed list. Closing the tenders on the same day "could help moderate tender bids and, in turn, future property prices", the Housing Board said yesterday.

It noted the sites were chosen because all three are meant for ECs and slated for launch during the second quarter of this year.

The Straits Times reported last month that the Government was looking at offering multiple sites for sale to developers in a given area at around the same time to rein in property prices.
DWG senior manager Lee Sze Teck said closing the tender for multiple GLS sites on the same day would probably make developers bid more cautiously.

The tender for the Anchorvale Crescent site closes on May 30. The Fernvale Close and the Faber Walk tenders will close on June 13 and June 18 respectively. The Punggol Central EC site tender will close on July 30.


Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C

Senior Sales Director
DTZ Property Network Pte Ltd (L3007960A)
Email: marshe_inc@yahoo.com.sg

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