Land prices in Singapore have slumped by up to 50 per cent since the property boom in 2007, according to market watchers. Weaker prices, coupled with recent strong demand for homes, could lure developers to replenish their land bank.
As home buyers have been flocking to project launches over the past few months, analysts said developers are showing more interest in good residential sites.
More than 7,200 new homes were sold in the first half of this year, far exceeding the over 4,200 units sold in 2008.
Last month, the government released two sites from its reserve list, under the Land Sales Programme, after receiving applications with minimum bids.
Among them was a plot at Dakota Crescent, which attracted a bid of at least S$130 million. It will be put up for public tender soon. Continue reading
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