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THE LEVEL GROUND

Greater flexibility needed when government assesses bids for GLS sites

Some leeway is vital to ensure adequate supply across various property segments

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Leslie Yee

Leslie Yee

Published Mon, Nov 11, 2024 · 12:56 PM
    • While a property valuer has sound rationale for assessing any land parcel’s value, the actual price at which a site transacts for will largely be dictated by what buyers are willing to pay for it.
    • While a property valuer has sound rationale for assessing any land parcel’s value, the actual price at which a site transacts for will largely be dictated by what buyers are willing to pay for it. PHOTO: BT FILE

    A BUYER may pay what many people view as an aggressive price for a home because he is very keen on the property for personal reasons. On the other hand, a property vendor who is in financial distress might sell at a significant discount to the transacted prices of comparable units nearby.

    Certainly, a property seller who wants to achieve a good price should be patient and hard-nosed. He may need to reject various offers while waiting for a difficult-to-resist offer.

    As the government is financially strong, should it adopt a tough stand when selling land?

    Government Land SalesResidentialSingapore residential propertyProperty developersThe Level Ground

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