But future offers may be more restrained as more land is released
THE results of a government land tender for a suburban location show how hungry developers are for building sites, say analysts.
A dozen developers have lodged bids for a 2.1ha plot at the corner of Yio Chu Kang and Seletar roads – a site that is not near an MRT station. A land tender ordinarily draws six to eight bidders.
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Analysts say demand for land is expected to stay strong, but they expect most developers to be more cautious in their bids in the months ahead, given that more land will be made available for sale soon.
The Government said on Monday that it will reinstate the confirmed list of sale sites for the first half of next year, among other measures aimed at tempering exuberance in the market.
Under the confirmed list, sites are pushed out for sale according to schedule, regardless of developers’ interest.
The latest site was the third put up for tender by the Government this year to attract very strong interest. The first and second land tenders each drew 13 bids. Continue reading
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