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

Keen buying interest at two new residential launches

Two new projects put on the market this year – The Clement Canopy and executive condominium iNz Residence – attracted keen buying interest over the weekend.

The 505-unit The Clement Canopy in Clementi sold 195 units on the first weekend of its launch, accounting for about 78 per cent of the 250 units released for sale, developer UOL Group said yesterday.

“There was healthy interest across all the unit types. I believe this is due to the pent-up demand in the vicinity and reasonable pricing,” noted UOL Group general manager for marketing Anthony Wong. Continue reading