Latest GLS tenders see firm land prices, keener interest from developers

THE latest Government Land Sales (GLS) tenders for 2 99-year leasehold housing sites have drawn keen interest, reflecting developers' hunger for land in the suburbs following strong sales last year.

It also reflects their confidence that the segment will continue to post healthy demand from first-time homebuyers and HDB upgraders.

The top bid for an executive condo (EC) housing site in Bukit Batok West Avenue 8 was S$661.67 per square foot per plot ratio (psf ppr), setting a new record price for EC development land.