26 Jul '14, 4pm

Bartley new launch by UOL

Bartley new launch by UOL

The first state tender this year for a private housing site may reflect a divergence in views among property developers amid an uncertain market outlook. UOL’s top bid of $648.30 per square foot per plot ratio (psf ppr) for the site near Bartley MRT Station was just 3.7 per cent higher than the second-highest offer of around $625 psf ppr by EL Development. “The subject site is bounded by Upper Paya Lebar and Bartley roads, which are busy thoroughfares, so units fronting these would have to be priced realistically.” However, the site is near Maris Stella Primary and Secondary schools, one MRT stop from the popular Nex mall and drew seven bids – which is considered a healthy participation rate, agents noted. Liam Wee Sin, UOL Group president (property), said: “We see strong potential demand coming from the Paya Lebar, Serangoon and Hougang areas which have very little supply...

Full article: http://www.developerlaunch.com/bartley-new-launch-uol/

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