Government Sales

Three sites, which combined could provide around 1,500 homes, have been put up for sale by the government this month. All three are close to state sites that were sold last year, and have a 99-year lease.


(Government sales, but are prices going down? Image courtesy of Singapore Tourism Board.)

Talking about the sites to The Straits Times, Credo Real Estate director Ong Teck Hui said that the sites aren’t as exciting as those put up for sale last year. “The current sites are not very near MRT stations so I’d expect (fewer tenders) and lower tender bids for them”, he clarified.

The first site is situated at the junction of Jalan Loyang Besar and Pasir Ris Drive 4. It was released by the Urban Development Authority (URA) and has a buildable area of around 610,000 square feet, which means it could accommodate 580 units. Though it is near to Pasir Ris Park, the site lies some distance from the Pasir Ris MRT station. The tender closes on May 10, with real estate experts looking at a top bid of around $336-430psf ppr.
 
The second plot is smaller than the first at 416,900sq ft, and should be developed into a condominium project. It is located at the junction of Sembawang Road and Jalan Sendudok. This other URA site has to potential to hold around 390 units. The tender for this site closes on May 36th, with a top predicted bid of $340-$410psf ppr.

Lastly, the Housing and Development Board (HDB) has put forward the third site, situated at Buangkok Drive/Sengkang East Drive. It is the largest of the three sites with an area of 631,300sq ft and a capacity for around 550 units. Tender closes on June 2nd and experts predict it will achieve a top bid of $320-$450psf ppr.

Keywords: homes, real estate company, condominium, real estate developer, HDB government, HDB Singapore.