The Business Times
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THE LEVEL GROUND

Space out tender closings of state land sales to maximise proceeds, manage risk

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Leslie Yee

Leslie Yee

Published Mon, Nov 13, 2023 · 06:14 PM
    • Moderating land prices may not matter much when it comes to determining selling prices of new private homes, as developers will price their products based on prevailing demand.
    • Moderating land prices may not matter much when it comes to determining selling prices of new private homes, as developers will price their products based on prevailing demand. PHOTO: ST FILE

    SINGAPORE’S housing market is showing resilience in the face of higher interest rates over a prolonged period, sluggish economic growth and geopolitical tensions.   

    Three 99-year leasehold private housing sites put up for tender by the Urban Redevelopment Authority drew healthy participation among developers and strong top bids.

    Singaporeans can be happy that state coffers stand to be enriched by a total of S$2.29 billion from the top bids for the three sites, whose tender closed on Nov 7. 

    Government Land SalesURASingapore residential propertySingapore propertyProperty developersThe Level Ground

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