Sites for tender will yield 2,925 units but they won’t be ready for at least 1.5 years
The Government came out about a week ago to say that there is no shortage of residential supply and thus no need for buyers to rush. That was when it announced its decision to tender out eight residential sites for sale in the first half of next year.
The eight sites are in non-city areas such as Choa Chu Kang, Simei and Tampines.
It also has a long reserve list of residential sites that are available for sale, if developers are to show interest by committing to a minimum bid the Government finds acceptable.
This potential supply comes from the twice-yearly government land sales programme and means buyers will have more choices while property owners may benefit.
HDB upgraders in particular will be glad to know that the latest sales programme – for the first half of next year – will see a slew of suburban residential sites.
Property owners who live near the eight sites can expect to see a new project in their neighbourhood in the next few years.
If the economy improves steadily, they can even look forward to a rise in their home values when the new project is released for sale.
‘Generally, when a new project is launched, it will have a bearing on the developments in the vicinity,’ said Colliers International’s research and advisory director, Ms Tay Huey Ying. Continue reading
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