Government Land Sales Dip

Government land sales new launch

In anticipation to a slew of completed housing to come in between 2016 – 2018, Government has announced a slow down in the land sales programme in December 2015. With this, the residential supply and/ or new launches will dip from 2016 onwards.

The latest awarded tender was a bullish bid on a rare, desirable site in Eastern Singapore, which attracted 8 bids. The top bid of $624 million was by Frasers Centrepoint, partnering Sekisui House (40%) and KH Capital (a unit of Keong Hong Holdings), or $858 psf ppr. This is 4% above  CDL consortium, who submitted the next highest bid on 14 Jan 2016.

When this effect takes place, properties with attractive attributes shall see their prices hold up better than those properties with abundance of unsold inventory.

For those out hunting for Developer Sales launches, do not expect much launches this year. A few confirmed private residential launches expected shall be 183 Longhaus, Stars of Kovan, Sturdee Residence, Wisteria and Parc Life EC.

In view of this, do check out some other choice location properties such as Neem Tree, Trilive, Sims Urban Oasis, Coco Palms, and LakeVille.