Developers’ sales for the week of 17 Jul – 23 Jul 2023 were 76 units
The CCR accounted for 22.4% while the RCR and OCR made up 40.8% and 36.8%
The respective top-selling project in the CCR was Cairnhill 16, followed by Grand Dunman, LIV@MB and The Continuum in the RCR, and Lentor Hills Residences and EC – North Gaia in the OCR
The close of tenders for 2 GLS sites last week revealed two things
Developers appeared to have grown cautious in the private residential market but remained upbeat in the EC market
There was only 2 bidders for Jalan Tembusu site probably due to the number of projects in the area, large quantum and high costs
The Tampines St 62 (EC) site had 7 bidders while the Plantation Close (EC) site saw 9 bidders
EC sites are gaining interest due to strong sales of recent projects and a measured supply of land for EC projects
Moving forward, GLS sites for private residential homes are likely to see between 1 and 5 bidders while those for EC homes may see between 5 and 9 bidders
