RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Condos on sites sold at Government Land Sale 8-35% more expensive

And majority of these sites are for the mass market segment.

DMG & Partners Research noted:

A new study by DTZ shows that median prices of new 99-year leasehold condos launched in 2010 and 2011 on sites sold at Government Land Sale (GLS) are on average 8-35% higher than those of comparable nearby condos released earlier. Majority of these sites pertain to the mass market segment. A case in point is Wing Tai’s recent launch at Petir Road, the Foresque Residences, which achieved an average price of $1,100 psf, 32% higher than the median price for the Tree House by CDL next door. Similarly, My Manhattan (at Simei Street 3) by Chip Eng Seng achieved a median price of $1,219 psf, a 42% premium to the $856 psf achieved by Double Bay Residences.

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