17 May '17, 7am

Interest from foreign players has also intensified, with two out of four land tenders awarded to foreign bidders"

Interest from foreign players has also intensified, with two out of four land tenders awarded to foreign bidders"

Developers have been paying substantial premiums for government land sites recently amid healthy private home sales. There has been aggressive bidding at public land tenders this year, with developers paying an average of 29 per cent more for residential plots over comparable sites sold in the past five years. That was sharply higher than 13 per cent average premium in the second half of last year, a Cushman & Wakefield report noted yesterday. "This is testament to greater confidence (on the part of) developers in the residential market, bolstered by the positive response in new project launches in recent months," it said. Sales of new homes in the first four months this year were brisk - at 4,696 units - driven by projects such as The Clement Canopy and Grandeur Park Residences . This was more than double the 2,220 new units sold in the same period last year. The sales li...

Full article: https://www.srx.com.sg/singapore-property-news/36772/inte...

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