The areas are Government licensed for sales in Singapore where Kampong Java Road and Tampines Avenue 10, there are two residential sites are up for grabs under the Government Land Sales programme. A mixed-use plot in Marina View Site is ready to the application under the reserved list. Three sites have total 2000 homes.
"The government land tenders that closed in September attracted more subdued bidding following the July cooling measures and developers will likely remain wary." Ms. Tricia Song, Colliers International's research head here, said.
In District 9 nearby Newton MRT, the Kampong site could prove that the first private residential land to be recommended under the confirmed list since the Urban Redevelopment Authority's revised minimum average unit size guidelines.
( The Newton Circus area. The Kampong Java site, near Newton MRT, is the first private residential land to be launched under the confirmed list since the URA's revised minimum average unit size guidelines.ST PHOTO: LIM YAOHUI )
"This site sits just outside of the Central area and should be subject to a minimum average unit size of 85 sqm (from the current 70 sqm) come Jan 17," Ms. Song noted.
"The response could (indicate) developers' confidence in the high-end home market after a spate of collective sales in the area (and the new development controls).
"We estimate developers could target a $2,100 per square foot average selling price and a land bid of $1,350 per square foot per plot ratio (psf ppr) or $470 million."
Analyst shows that with an attractive interest, the executive condominium site in Tampines Avenue 10 ( released by the Housing Board under the confirmed list) will get satisfied with the customer.
( The area Government for sales )
Due to the lack of new executive condominium and their popularity among the first buyer and up-graders, the number of the 24,938.7 sqm can up to 695 units.
"Has not seen a new EC project since the launch of City life Tampines in February 2013, so there could be keen demand from up-graders as well as nearby HDB towns". JLL national director Ong Teck Hui noted that Tampines.
"We could see six to 10 developers contesting for the parcel with the top bid coming in between $500 and $600 psf ppr," he said.
Ms Song also expects the plot to be popular given the robust response to recent EC land sales at Anchorvale Crescent, which attracted seven bids, and Canberra Link, where nine developers threw their hats in the ring, despite the cooling measures. She said the new development rules should not affect ECs as the average unit size is well above 85 sqm.
If the developer gives an acceptable minimum price, The Marina View Site will go up for tender. Before that it is recommended for the mix of using 540 hotel and 905 homes.
Cushman & Wakefield senior director Christine Li said the plot will be "hotly contested by developers who wish to increase their exposure to the hotel market".
"The outlook for the hospitality sector is improving due to the increasing number of tourist arrivals and limited pipeline supply of new hotel rooms," she added.
Another positive view is that the place in the Central area is tax-exemption. The information from the new development controls.
The tender for the sites at Kampong Java and Tampines Avenue 10 both close at noon on Jan 15. To update more detail information, please refer to newpropertylaunches.com.sg