Singapore
ARE developers too aggressive in bidding up land prices in Singapore? It may well depend on who you ask. A new study on winning bids this year has tossed up a contrarian view on their bidding behaviour, with more than half of the winning bids regarded as "measured".
About 58 per cent of the winning bids suggest that developers were expecting selling prices for new projects to be either around current levels or up to 10 per cent higher, a study by JLL exclusively for The Business Times shows.
The other 42 per cent of winning bids reflect a bullish price outlook among developers. Of this, 27 per cent of the winning bids point to a 10-20 per cent rise in selling prices of new homes from current...