EC housing site in Anchorvale Crescent draws 12 bids

[princess_morbucks]

The Business Times ‏@BTBreakingnews (https://twitter.com/BTBreakingnews) 1h (https://twitter.com/BTBreakingnews/status/433899153920249856) An EC housing site in Anchorvale Crescent draws 12 bids. Top bid of S$366.91 psf ppr from Phoenix Real Estate #SingaporeProperty (https://twitter.com/search?q=%23SingaporeProperty&src=hash)

[princess_morbucks]

http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/67BB5C2096D3E84248257C7E002B67C3?OpenDocument

http://www.hdb.gov.sg/fi10/fi10297p.nsf/ImageView/CORPORATE_PR_Press%20release%20Anchorvale%20Location/$file/Press+release+Anchorvale+Location.pdf

[princess_morbucks]

http://www.businesstimes.com.sg/breaking-news/singapore/sengkang-ec-site-draws-dozen-bids-20140213

A state tender for a 99-year leasehold executive condominium housing site in Anchorvale Crescent in Sengkang has attracted 12 bids.
The highest bid, from Phoenix Real Estate, is nearly S$192.89 million.
This translates to S$366.91 per square foot per plot ratio (psf ppr).
The site can generate about 545 homes. It is next to Cheng Lim LRT Station, one stop from Sengkang MRT Station.

[4wheels]

http://www.businesstimes.com.sg/breaking-news/singapore/sengkang-ec-site-draws-dozen-bids-20140213

A state tender for a 99-year leasehold executive condominium housing site in Anchorvale Crescent in Sengkang has attracted 12 bids.
The highest bid, from Phoenix Real Estate, is nearly S$192.89 million.
This translates to S$366.91 per square foot per plot ratio (psf ppr).
The site can generate about 545 homes. It is next to Cheng Lim LRT Station, one stop from Sengkang MRT Station.

price is still high!

[phantom_opera]

land price is holding ... some better sites even exceeded expectation

only HDB resale price at Punggol/Sengkang dropping lol

[el loco]

Punggol and Sengkang are the biggest con job by the gov. High price yet remote. The only saving grace is the glorify canal which they had helped to pay for it.

[kane]

developers so desperate for projects?

[Amber Woods]

developers so desperate for projects?

In business finance, there is this elements call fixed cost and variable cost. A company will have fixed cost even if there is no business or project. As such, as long as the projects could help to cover fixed cost, the company is better off with projects than no project even if the projects are not making money. Hence, companies will continue to bid high to secure the land. They hope that they could make some profits or at least cover their fixed costs even if the projects sell at a lost.