Last EC site near Punggol MRT to drive strong interest

Up to 10 bidders are expected for this land parcel but winning bid could only range from $310-$320.

Here's from Knight Frank:

Expected winning bid: $310 to $320 psf ppr

Expected selling price: $740-$760

Expected number of bidders: 8 to 10 bidders

There could be strong interest for this EC site, as this is the last EC site under the 2H 2012 GLS Programme that is in close proximity to Punggol MRT station and easily accessible to Tampines Expressway and Kallang-Paya Lebar Expressway. The other 5 EC sites that were previously sold this year are located further from MRT stations.

The site is also situated near the Punggol Waterway Park and Punggol Promenade area, which is gaining in popularity with its waterfront recreational facilities.

Demand for EC units is expected to remain healthy as this market segment serves the sandwich class of home buyers. Young parents with kids or planning to have kids will be attracted to the future EC development given the number of schools in the vicinity, including Punggol Green Primary School, Edgefield Secondary School, Compassvale Secondary School, Edgefield Primary School, and Punggol View Primary School.

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