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Thread: HDB puts up Jurong West land for tender at Westwood Avenue

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    mr funny is offline Any complaints please PM me
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    Default HDB puts up Jurong West land for tender at Westwood Avenue

    http://www.channelnewsasia.com/stori...013745/1/.html

    HDB puts up Jurong West land for tender at Westwood Avenue

    By Channel NewsAsia | Posted: 26 October 2009 1318 hrs


    SINGAPORE: The Housing & Development Board (HDB) on Monday accepted an application under the Reserve List System to put up a residential land parcel at Jurong West for public tender.

    HDB said it will launch the tender for the land parcel in about two weeks.

    The land parcel is at Westwood Avenue and it is proposed for the development of landed housing.

    The area covers 14,098.9 square metres and is for a lease term of 99 years.

    Under the Reserve List System, the government will put up a Reserve List site for public tender if it receives an application from a developer who commits, by signing an agreement and paying a deposit of five per cent of the bid price, to bid for the site at or above the minimum offer price.

    For this site, the minimum offer price has been set at S$15,000,000.

    - CNA/yb

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    omg, is this good news or bad news for westville or westwood park resident?

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    Quote Originally Posted by joseph85
    omg, is this good news or bad news for westville or westwood park resident?
    BAD NEWS

    how many existing westwood 99 yr , probably 10 yr old houses manage to sell in this rally ??

    with more to come into the same area ... even harder to sell

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    xebay11 is offline New Launch Project Specialist
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    Quote Originally Posted by proud owner
    BAD NEWS

    how many existing westwood 99 yr , probably 10 yr old houses manage to sell in this rally ??

    with more to come into the same area ... even harder to sell
    But there may be Centro/Optima/Silversea effect.

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    But this is Jurong West (not even Jurong East) ...

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    Quote Originally Posted by proud owner
    BAD NEWS

    how many existing westwood 99 yr , probably 10 yr old houses manage to sell in this rally ??

    with more to come into the same area ... even harder to sell
    then how come the developer want to bid that piece of land when it is difficult to sell like what you have said?

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    http://www.businesstimes.com.sg/sub/...56408,00.html?

    Published October 27, 2009

    Landed housing site on reserve list set for sale

    By EMILYN YAP


    (SINGAPORE) Demand for residential land has spread from the non-landed to the landed sector. For the first time this year, a developer has triggered for sale a government landed housing site, and consultants are expecting to see some competition for the plot.

    The 99-year leasehold parcel on Westwood Avenue, Jurong West, is on the government reserve list and has a site area of 14,098.9 square metre. The plot is surrounded by other landed estates such as Westwood Park, The Floravale condominium, and is near the Pan-Island Expressway.

    An unnamed developer has committed to bid at least $15 million or $99 per square foot of land area for the site. HDB will launch the tender for the plot in about two weeks. Property consultants expect to see at least five bids for the site.

    DTZ head of South-east Asia research Chua Chor Hoon reckons that there would be around 10 bids. 'There are not many landed homes in the west, and there is demand not just from HDB upgraders, but also from those working nearby in Nanyang Technological University and the industrial estates,' she says.

    Colliers International research and advisory director Tay Huey Ying believes that the site could draw around 5-8 bids - some from newcomers - because not many 'mass-market landed sites' have been available in the market.

    Savills Singapore research & consultancy senior manager Christine Sun adds that the upcoming development of Jurong Lake District could lead to more commercial activities and employment in the area, translating to greater housing demand and possibly higher rental yields.

    Wide-ranging estimates have been made for the winning bid. DTZ foresees that the site can house mainly terrace houses - about 50-55 of them - and the top bid could reach $25-30 million, or $165-200 psf of land area.

    This, in turn, would lead to a breakeven cost of $295-330 psf. Each unit may eventually be sold for $1.1-1.2 million, or $580-680 psf.

    Savills believes that the site would be able to hold around 60 terrace units. Indicative bids would range from $16.7 million to $21.2 million, or around $110-140 psf of land area. The sale price of each unit could come up to around $1-1.1 million.

    Going by caveats lodged in July and August, terrace houses at the adjacent Westwood Park changed hands at $454-510 psf, or $850,000 to $1.13 million.

    The land parcel on Westwood Avenue was previously on the Confirmed List and had been put out for tender in January last year. The government did not award the tender as the two bids tendered - $11.8 million and $10.33 million - were considered too low.

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    旧地重底价高出27% 发展商对地皮需求殷切
    龚慧婷
    联合早报
    星期二, 27-10-2009

    私宅发展商最近对地皮需求殷切,一幅去年曾公开招标但反应欠佳的地段,昨天被一名发展商以1500万元(每平方英尺98.84元)从备售名单(reserve list)中来,这个承诺底价就比去年公开招标时的最高标价高了27%

    建屋发展局是在去年1月16日,推出这幅位于裕廊西的西林道(Westwood Avenue)的有地私宅地皮,在市场上公开招标,当时这幅地段在正选名单上。

    然而,当招标在去年3月11日截止时,只获得两方人马出手竞标,出手较高的一方是Boon Keng发展,但最高标价也只有1180万元(即每平方英尺78元)。

    而建屋局最终以投标价格太低为理由,决定不颁发该有地私宅地皮。当时市场分析师就认为,这只有市场预期标价的约三分之一,反映出当时市场情绪谨慎和高涨的建筑成本。

    这幅占地1万4099平方公尺(约15万1761平方英尺)的有地住宅地皮,地契租约为99年,相信可建50至55间排屋。

    昨天,这幅官地被一名发展商承诺以不低于1500万元的标价,从备售名单中勾出来。

    卓登新达国际研究部主管陈瑞谨认为,这只是承诺底价,以最近招标地段的反应来看,最终成交价可能会比这个价格高,且会吸引十名以上的本地发展商进场,争夺市场份额。但由于这是有地住宅地段,他相信价格的涨幅或许不会象其他共管公寓地段那么大。
     
    资深房地产顾问麦俊荣却认为,这幅地段至少会吸引5份投标书,主要的原因有两个:在过去几年,政府鲜少出售可建有地私宅的官地、随着公寓价格攀升,买家对有地住宅的兴趣日浓。

    他认为,若发展商以每平方英尺99元的标价出手,价格还是非常吸引人的,就算加上建筑成本,一栋2700平方英尺的排屋相信还是能卖得不错的价钱。

    担心地价影响楼价

    但陈瑞谨却担心,地价若攀升,会因此炒高接下来的楼价,使楼价达到不切实际的水平。

    陈瑞谨因此呼吁政府考虑双管或三管齐下,尽快恢复正选名单,并通过不同的政府机构,如市区重建局、建屋局或土地管理局同时推出不同的官地招标,这能有助于压低飙升的地价,降低土地招标的热度。  过去三个月以来,四个被勾出的政府备售地段都吸引了至少12方人马竞标。

    这个月7日招标截止的实龙岗共管公寓地段,就获得15方人马出手竞标,不但吸引了自07年以来,最多的发展商出手,标到这幅位于罗弄泉地铁站旁官地的丰隆集团,也开出2亿2120万元的标价,即容积率每平方英尺529元,与当初勾地的8370万元最低保留价足足高了164%。

    丰隆集团昨天表示,打算在这个地段上,兴建超过400个单位,相信发展概念将是独一无二的。

    丰隆集团其中一名发言人郭公辉说,单位的尺寸将符合该区客户的需要。项目估计会在2010年上半年竣工。

    他在受询时指出:丰隆相信为客户提供物有所值产品的同时,也不会牺牲掉居住空间的实用性。

    他进一步说明:我们不会兴建如鞋盒般的单位(即400平方英尺以下的单位),反之,我们将根据这区客户的需要来定我们单位的大小。

    郭公辉是针对最近有分析师猜测,丰隆是否会在这个地段上兴建所谓的米老鼠公寓,发表以上澄清。

    他说,丰隆向来是以发展家庭单位为主的高素质项目闻名。最近的一些项目就包括樟宜路上段的The Gale等。

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    Quote Originally Posted by xebay11
    Quote Originally Posted by proud owner
    BAD NEWS

    how many existing westwood 99 yr , probably 10 yr old houses manage to sell in this rally ??

    with more to come into the same area ... even harder to sell
    But there may be Centro/Optima/Silversea effect.
    What "maybe"?

    It's "sure to be".

    This time it's called Westwood Effect.

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    Hmmm .. just wondering for 99LH landed housing projects, how much 'power' ... waiting for this westwood effect lor

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    this one got to be seriously cautious. in 96 bubble time, the one crashed the most is 99y LH landed developments

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    Another land parcel triggered
    H88
    Tuesday, 27 October 2009, 14:23



    But this time it's for landed property. With the property price rise seen across the board this quarter, including prices of landed homes, this triggering of the 99-year leasehold site along Westwood Avenue in Jurong West should come as no surprise.

    Analysts say there'll be many competitors for this site, whose minimum bid starts at $15m. According to Chua Chor Hoon, DTZ Head of South-east Asian research, she tells the Business Times,
    There are not many landed homes in the west, and there is demand not just from HDB upgraders, but also from those working nearby in Nanyang Technological University and the industrial estates.

    Prices of landed homes there are pretty cheap, with terrace houses in next door Westwood park going for around $850k to $1.13m. So if your dream home comes in the shape of a landed house, keep an eye out for this place.

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    Quote Originally Posted by xebay11
    But there may be Centro/Optima/Silversea effect.

    centro/optima/silversea all new projects ..


    the existing westwood landed are at least 10 yr old ... new landed will have new appliances, new design, etc etc ..

    singapore mentality = buy new ones better ..

    so the old westwood will be even harder to sell ...

    unless they sell at half price lor ..

    there wont be any westwood effect lah ..

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    Quote Originally Posted by joseph85
    then how come the developer want to bid that piece of land when it is difficult to sell like what you have said?

    i am not saying it will be difficult to sell

    i am saying the OLD EXISTING westwood terraces will have hard time selling off their old units ..

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