Let’s look at numbers.
16 bids for Anchorvale GLS. OMG! Almost all the developers are there! Highest bid came from Hoi Hup of $355 psf ppr. As a comparison, Sim Lian only paid $280 psf ppr for the land of Treasure Crest EC. There is a difference of $75 psf just in terms of land price alone. Treasure Crest EC was launched at an average of $742 psf. If the construction cost remains the same, a simple arithmetic can tell you that the launch price for this new plot of EC land is expected to be around $820 psf.
2 points to note from this bidding exercise.
- Treasure Crest EC is damn cheap.
- The fact that this plot of land attracted 16 developers is a clear endorsement that the buyers are returning to the EC market.
Cheers to all!