Aggressive land bids drive premiums up at government sites

Developers have been paying substantial premiums for government land sites recently amid healthy private home sales.

There has been aggressive bidding at public land tenders this year, with developers paying an average of 29 per cent more for residential plots over comparable sites sold in the past five years.

That was sharply higher than 13 per cent average premium in the second half of last year, a Cushman & Wakefield report noted yesterday. Continue reading

Developers’ sales in Singapore soar to 1,780 private homes in March: URA data

DEVELOPERS in Singapore sold 1,780 private homes in March 2017, up nearly 82 per cent from the 979 units they moved in the previous month and also 111 per cent higher than the 843 units they sold in March 2016.

The March 2017 figure is the highest since June 2013, when developers sold 1,806 private homes.

The above figures exclude executive condominiums (ECs).

Including ECs, which are a public-private housing hybrid, developers found buyers for 2,358 units in March 2017, again higher than the 1,308 units in February 2017 and the 1,328 units in March 2016. Continue reading

Condo launches to drive new home sales up

Last month’s tepid new private home sales tally that spelt a soft end to an otherwise bright year could soon be a distant memory.

In a lively start to the year, the new private home market is expected to welcome as many as four project launches by April.

One standout is the highly anticipated Park Place Residences at Paya Lebar Quarter (PLQ) – part of a $3.2 billion mega mixed-use project by Lendlease and Abu Dhabi Investment Authority. Continue reading