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by OrangeTee & Tie Pte Ltd.

Bid for Tampines EC site breaks records

Others

Others


Singapore, 24 Jul 2021

The government just closed the tender for Lentor Central and Tampines executive condo (EC) sites, both seeing fairly strong bids.

The Tampines St. 62 EC plot garnered 9 bids, an all-time high land rate for an EC government land sales (GLS) site, with 6 out of nine above the record of the $603 per square feet per plot ratio (psf ppr) land rate set by Tengah Garden Walk EC site awarded June 2021.

“The expected selling price for this Tampines EC could range between S$1,250 and S$1,300 psf. Based on URA caveats, the selling price for new ECs is inching closer to S$1,200 psf this year, such as Piermont Grand, which was sold at a median price of S$1,151 psf, Provence Residence at S$1,150 psf, Parc Central Residences at S$1,173 psf, OLA and Rivercove Residence both at S$1,143 psf. Therefore, a median selling price of above S$1,200 psf for new ECs could be breached when this plot is launched,” said OrangeTee Senior Vice President of Research & Analytics Christine Sun.

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