MCL Land (Regency) tops bid for residential site at Margaret Drive in Queenstown. 14 developers bidded for the piece of land, a clear indication of strong demand in the residential market. The price tag of $238 million for 22,195 sq m exceeded market expectation, which works to be 998 psf ppr.
The breakeven price is expected to be around $1500 per sq feet when the residential property hits the market.
|Gross Floor area (sq m)||22,195|
|Expected Breakeven (psf)||$1,500|