2 99-year leasehold sites offered as part of the Government Land Sales Programme have each fetched 9 quotes at state tenders on Thursday.
One is a plot for an exclusive housing development with business area on the 1st storey, located alongside the upcoming Lentor MRT terminal on the Thomson-East Coast Line; and also another is a site for an executive condominium (EC) real estate along Tampines Street 62. ECs are a public-private housing hybrid.
For the EC site in Tampines Street 62, the top bid of S$ 422M or nearly S$ 659 psf ppr originated from a consortium comprising a Qingjian Realty and Octava Pte Ltd joint venture and Santarli Realty.
Probably you feel the Tampines St 62 EC price shouldn’t be that high, time to compare with Canninghill Piers which will be sold above $3,000.
The Tampines St 62 EC project is around 1 km from the Pasir Ris MRT terminal, near nature parks such as Tampines Eco Green Park and also Tampines North Blvd Park. It is likewise situated towards the south of Tampines Meridian JC. Nearby institutions are Poi Ching Primary School, Gongshang Primary, Elias Pri school, etc.
From: Tampines St 62 EC https://tampinesnorth-ec.com/
Tampines has had a variety of HDB Build-To-Order launches in the past few years, supplying a huge pool of prospective upgraders to ECs.
REASONS TO INVEST IN Tampines street 62 EC? Assistant supervisor of research and also consultancy claimed a strong marketing factor is the land parcel’s closeness to the upcoming Tampines North MRT station as well as amenities in Tampines community.
The present average transacted prices for brand-new EC houses sold by developers is above $1,150 psf in 2021. This colony rate will make current EC projects fairly cheap comparative.
The positive top proposal shows a positive outlook on EC rates along with solid need for domestic sites due to developers’ declining stock of balance units.
Piermont Grand was cost a mean rate of $1,151 psf, and Parc Central Residences at $1,173 psf. Consequently, an average market price of above $1,200 psf for brand-new ECs is totally possible when the Tampines St 62 EC is introduced.
Tampines is the preparation area as well as property town in the geographical area of Tanah Merah situated along the north-eastern shore of the East Area of Singapore. The preparation area is surrounded by Bedok and also Paya Lebar to the west, Pasir Ris to the north, Changi to the eastern, and also the Singapore Straits to the south. Tampines New Town is located in the north section of Tampines intending area.