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Developers keep residential land bids in check as caution sets in

Further declines in land prices are expected for the rest of this year in the face of falling selling prices for projects, say consultants

Published Sun, Apr 5, 2015 · 09:50 PM

URA

Singapore

CAUTION about the local residential market has kept developers' bids for state land tenders this year in check, marking a reversal from the bidding fever more than a year ago that stoked fears of land costs outpacing fundamentals.

Winning bids for residential sites sold under the Government Land Sales (GLS) programme this year have come down by a broad range of 3-24 per cent in prices relative to comparable sites sold in 2013 or 2014.

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