Developers’ sales for the week of 28 Aug – 3 Sept 2023 were 41 units
The CCR accounted for 34.1 % while the RCR and OCR made up 24.4% and 41.5%
The respective top-selling projects in the CCR are Pullman Residences Newton, followed by The Landmark in the RCR, and Lentor Hills Residences, Pasir Ris 8 and The Myst in the OCR
SLA announced changes to the Land Betterment Charges for Sept 2023 to Feb 2024
The Land Betterment Charges (LBC) for Group B2 (non-landed) for Sept 2023 to Feb 2024 have eased slightly by around 3% on average due to the subdued land bids for the past six months
Despite the drop in LBC, it is unlikely to result in a pick up in interest in the collective sales market for the next six months
The uncertain economic outlook and continued high costs may mean cautious bids from developers for land to manage risks
It is likely that 1 to 5 bidders for private residential sites may be the norm
