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Good response expected for Clementi site

Mature estate location and proximity to good schools will draw bidders, though market headwinds will keep bids realistic: consultants

Published Fri, Oct 23, 2015 · 09:50 PM

URA

Singapore

PROPERTY consultants are expecting a good response for a 99-year leasehold private residential site in Clementi Avenue 1 launched for sale on Friday, given its location in a mature estate and its proximity to several good schools. The 1.3-hectare site is estimated to yield 460 units. It is on the confirmed list of the second half 2015 Government Land Sales programme.

Consultants' forecasts came in a wide range, with expectations of 5-16 bids, with a top bid falling in the brackets of S$480 to S$692 per square foot per plot ratio (see table).