EC supply crunch powers Punggol site to record price
Top bid for Sumang Walk site is S$583 psf ppr, 39% higher than 2013 record of S$419 psf ppr for Lake Life
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
THE under-supply in the executive condominium (EC) market is so acute that all 17 bidders at a state tender for a site in Punggol have placed bids that are higher than the record for EC land set in July 2013, at the previous peak of the residential market.
The top bid for the Sumang Walk site at Tuesday's tender closing, from a joint venture between wholly-owned subsidiaries of City Developments Ltd (CDL) and TID, was S$583 per square foot per plot ratio (psf ppr).
Copyright SPH Media. All rights reserved.
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
