Residential
Developers more cautious in EC bidding
Analysts say that developers are now showing more caution in bidding for executive condominium (EC) sites after the tender for a 99-year leasehold site at Canberra Drive. The highest bid out of six bidders was $226 million, or $350.04psfppr, from a joint venture between Verwood Holdings, a unit of City Developments, and TID Residential. This bid was in line with earlier estimates of between $320 and $380 psfppr, and was 4.4 percent higher than the second highest of $216.5 million, or $335.33 psfppr, from MCL Land (Brighton).
(Source: Business Times)
Completed condo prices dropped in 2013: NUS
According to the National University of Singapore’s Overall Singapore Residential Price Index (SRPI), prices of completed non-landed private homes decreased 0.6 percent for the whole of 2013, compared with an increase of 4.2 percent in 2012. This drop followed the ...