>

>

HDB to launch tender for Reserve List site on Anchorvale Crescent

By Bong Xin Ying

/ EdgeProp SG |

July 26, 2018 11:15 AM SGT

A 99-year leasehold residential site at Anchorvale Crescent has been triggered for launch of tender, as announced by HDB. The site will be used for an executive condominium (EC) housing development.

HDB has accepted an application from an unnamed developer to put up the site for sale by public tender, at a minimum bid of $225 million. This translates into a land rate of $460.80 psf per plot ratio (ppr). Despite the government’s property cooling measures, this could indicate that some developers believe that the EC market will still enjoy strong demand, notes Nicholas Mak, executive director of ZACD Group.

The land parcel was first made available for sale on the Reserve List of the 1H2018 government land sales programme on June 28. The EC site is 184,461 sq ft and can yield a maximum gross floor area (GFA) of 553,383 sq ft. Up to 550 housing units can be developed on the site.

As buyers of new EC units must not own any other residential properties, this would mean that they will not be subject to the additional buyer’s stamp duty (ABSD). Also, with the strong buying demand and shortage of ECs in the past year, an EC project may be considered a “safer bet” by some developers, notes Mak. The public tender will be launched in about three weeks. The tender period for the site will be about five weeks.

The estimated land price would range from $257 million to $305 million ($465 to $551 psf ppr), says Mak. Due to the limited supply of EC sites and the recent brisk sales at Rivercove Residences, which was the most recent EC launch, this tender could draw strong interest from many developers, he adds. Mak reckons that the tender could attract 11 to 18 bids.

Tags:

Anchorvale Crescent Executive Condominium

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Emerald of Katong hits 99% sales at launch, averaging $2,621 psf

2

Kingsford sells 76% of Chuan Park units at an average price of $2,579 psf

3

Is it a Good Deal?: $1.03 million for a four-room HDB flat in District 10

4

Sim Lian Group’s Emerald of Katong: Will it be another top-seller?

5

CDL sells 20% of Union Square Residences at an average price of $3,200 psf

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00