Daily Archives: 8 Oct 2009

Popular condo site draws 15 bids

Posted on 8 Oct 2009 | Comments Off on Popular condo site draws 15 bids

Top bid for Serangoon land parcel higher than expected at $221m

DEVELOPERS have again shown how hungry they are for land.

RELATED LINKS   Top 5 bidders

Hong Leong Holdings has topped the tender for a popular condominium land parcel at Serangoon Avenue 3, which attracted a whopping 15 bids at its close yesterday.

The top bid, made through Intrepid Investments, came in higher than expected at $221.2 million, or $529 per sq ft (psf) of gross floor area. It is about 13 per cent ahead of the second highest bid of $195.9 million, or $468.3 psf of gross floor area, from Far East Organization’s Tuas Hi-Tech Park.

The high offer price is 164 per cent above the trigger bid of $83.7 million, or about $200 psf of gross floor area. This is the minimum bid submitted by a developer to trigger a site for sale from the Government’s reserve list.

Analysts had mostly expected the 1.38ha plot next to Lorong Chuan MRT station to draw bids of between $350 psf and $450 psf. Continue reading →

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Hard to get that first flat? Not so

Posted on 8 Oct 2009 | 1 comment

Mah sets records straight on claims by couples

NATIONAL Development Minister Mah Bow Tan has refuted claims by some first-time buyers that they could not get an HDB flat despite repeated applications.

Mr Mah said yesterday that some of the assertions that have appeared in media reports recently were ‘not entirely truthful’.

Home seekers had claimed that they were unsuccessful despite making several applications, while one hopeful said he lodged 18 attempts but still did not secure a home.

But Mr Mah said: ‘What is actually happening, is not a matter of buyers getting a flat, it’s a matter of them getting it and not selecting it for one reason or another.’

HDB figures yesterday showed that eight in 10 first-timers could get a flat on their first try if they were not choosy; the success rate was 96 per cent for the second try. Continue reading →

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