View Full Version : New contest to guesstimate The Istana's value
http://www.propertyguru.com.sg/property-management-news/2013/10/36787
The land area 106 acre (1 acre=43,560 square feet) is equivalent to 4.617.360 square feet. I will put a land price of $3000, so the land value at 13.852.080.000. I would say the value is close to 14 billion including the buildings.
The land area 106 acre (1 acre=43,560 square feet) is equivalent to 4.617.360 square feet. I will put a land price of $3000, so the land value at 13.852.080.000. I would say the value is close to 14 billion including the buildings.
you are 1 of our respected experts here ! :D
remember to post your answer to the link and claim your prize ! Good Luck ! :D
http://www.propertyguru.com.sg/property-management-news/2013/10/36787
difficult to cut and paste from mobile. tried so many times earlier.
Ever wondered what The Istana is worth?
That’s the question posed by PropertyGuru in a new contest that aims to get Singaporeans to enter a hypothetical, indicative value of this iconic property.
Launched on Friday, the PropertyGuru Value-Estimate Contest is also the first of its kind in the country.
Bjorn Sprengers, Chief Marketing Officer, PropertyGuru Group, said: “Let me clarify that The Istana is not and will never be for sale! PropertyGuru’s intent of organising a value-estimate contest is to educate the public on how to accurately put a price on a residential property.”
“We chose The Istana because it is Singapore’s most distinctive and respected sovereign icon that Singaporeans know only too well. After all, it is the official residence of The President of Singapore.”
The online contest is the highlight of the portal’s S$1 million “Get The Guru View” campaign, which aims to help the public make better property decisions.
Sprengers added: “This newly-minted campaign with its value-estimate contest feature is guaranteed to drive public interest and a talking point among industry pundits.”
PropertyGuru expects to receive around 10,000 entries and the most accurate winning figure will be decided by a panel of four of Singapore’s top real estate heads including Alan Cheong, Senior Director of Research and Consultancy, Savills; Colin Tan, Chief Executive Officer, Vestor Realty; Eugene Lim, Key Executive Officer, ERA Realty Network; and Mohamed Ismail, Chief Executive Officer, PropNex Realty.
During the contest, these experts will offer clues and share insights on how to provide a value estimate on a residence, in this case The Istana.
The winner will take home the top prize of a one-night stay at the Raffles Hotel in Singapore. There are also 10 consolation prizes of S$100 each.
Those looking to take part can do so at: http://bit.ly/IstanaContest
The contest closes on 7 November.
The land area 106 acre (1 acre=43,560 square feet) is equivalent to 4.617.360 square feet. I will put a land price of $3000, so the land value at 13.852.080.000. I would say the value is close to 14 billion including the buildings.
Do we value the land at it is or potential redevelopment value?
what sort of plot ratio are we looking at. At the moment, height restriction on site around Istana is about 24 to 36 AMSL.
And we will be valuing the land based on FH or LH?
Let assume everything status quo, LH and same plot ratio and building height, we could use the recent GLS tender at Mount Sophia as a guide.
The site next to Istana was recently sold at $18,600 per M2 (site area) with 1.4 plot ratio. If we consider the land mass of 106 arce, total land area will be around 428,963m2. And if we set aside 20% of the land for road and infrastructure, total land mass available for development will be around 343,170m2.
So based on the recent GLS tender price, and factor in a higher plot ratio of say 2.1 (because istana is less hilly) I would value the land at around $9.6 billion.
However, it we are going to factor in potential value of say removing building heights and increasing plot ratio, then the value will be different.
CondoInterested
18-10-13, 21:48
Selling Istana away is like selling the White House of USA and is like selling your country away (賣國賊).
Selling Istana away is like selling the White House of USA and is like selling your country away (賣國賊).
selling istana is a no-no. but renting command house is yes-yes.
wonder why president dont stay in commandhouse, and rent out the istana. sure govt sure can have more rental income this way.
proud owner
18-10-13, 23:36
selling istana is a no-no. but renting command house is yes-yes.
wonder why president dont stay in commandhouse, and rent out the istana. sure govt sure can have more rental income this way.
where is Command house ?
where is Command house ?
http://maps.singaporeexpats.com/map-details.php?query=COMMAND%20HOUSE
http://www.ubs.com/sg/en/wealth_management/about_us/business-university.html
proud owner
19-10-13, 00:09
http://maps.singaporeexpats.com/map-details.php?query=COMMAND%20HOUSE
http://www.ubs.com/sg/en/wealth_management/about_us/business-university.html
oh in front of Tudor ...
The land area 106 acre (1 acre=43,560 square feet) is equivalent to 4.617.360 square feet. I will put a land price of $3000, so the land value at 13.852.080.000. I would say the value is close to 14 billion including the buildings.
thanks for the figures for land area.
site area = 4.617.360 sqft
plot ratio = 10
psf ppr = $1500
so land value = $69 billion.
why plot ratio = 10? dhoby ghaut is interchange for 3 mrt lines le. and surrounding plot ratio for commercial already 4.9.
why psf ppr = $1500. selling price for residential should be around $2500psf. commercial space much higher. (and yishun by F&N already hit $1k psf ppr, the guocoland tanjong pagar also $1k psf ppr in 2010)
selling istana is a no-no. but renting command house is yes-yes.
wonder why president dont stay in commandhouse, and rent out the istana. sure govt sure can have more rental income this way.
There's a rumour that you-know-who stays in the Istana. So maybe that's why the president doesn't stay there, but to only use it to receive guests. A political dissident who has since moved to Australia also said the same thing. :)
wah, nobody want to play the guesstimate?
or all here want to win the prize?
i think have to use psf ppr price as basis for calculation, instead of just land cost. :2cents:.
easy calculation right, what psf ppr price and what plot ratio.
the cell in yellow is the figure i chose.
Anybody want to guesstimate the value of Singapore?
any updates on the contest? closed on 7 nov according to the article.
There's a rumour that you-know-who stays in the Istana. So maybe that's why the president doesn't stay there, but to only use it to receive guests. A political dissident who has since moved to Australia also said the same thing. :)
i m curious. who stays there?
i m curious. who stays there?
I know PM has a office at Istana.
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