The research area along the passage can be combined with the energy location to create a bigger study or a guest room in the 1,076 sq ft, three-bedroom-plus-utility-and-study.
CDL and also MCL Land paid $603 psf ppr for their EC site at Tengah Garden Stroll in June in 2014, while Qingjian and also Santarli paid $659 psf ppr for the EC site at Tampines Road 62 in July 2021, breaking the record for land prices in the EC sector.
Qingjian and Santarli smashed their own record in March this year when they won the EC site at Bukit Batok West Opportunity 8 with a land proposal of $662 psf ppr. The brand-new 375-unit EC job at Bukit Batok West is expected to be introduced sometime in 2Q2023.
Standard land prices in the OCR.
It is not simply EC land costs that are setting brand-new highs. “Also government land sales [GLS] of 99-year personal property sites in the Outside Central Region [OCR] are setting benchmark costs,” says ERA’s Mak.
The North Gaia showflat of the 1,389 sq ft four-bedroom penthouse with 4m ceiling height.
Last July, GuocoLand set a new record for exclusive residential advancement land in the OCR when it paid $1,204 psf ppr for a mixed-use advancement site at Lentor Central, which will certainly be attached to Lentor MRT Terminal on the Thomson-East Shore Line. The new task, Lentor Modern at Lentor Central, is likely to be introduced at some time at the end of 3Q2022 or very early 4Q2022.
Meanwhile, a joint endeavor in between UOL Team, Singapore Land Team and Kheng Leong Co paid $1,118 psf ppr for the household GLS site at Ang Mo Kio Method 1 last Might. The new 372-unit project on the website is expected to be introduced in June this year. “Both these jobs will certainly be establishing a new cost standard for the OCR as they are likely to be launched at prices near to $2,000 psf,” notes period’s Mak.
With ECs valued at the $1,250 psf to above $1,300 psf range, as well as upcoming optical character recognition launches projected to get in the market at $1,900 to above $2000 psf, there is still a 46% to 52% rate gap in between these two market sectors, claims Ken Low, taking care of partner of SRI. “ECs still offer a very attractive chance for house seekers,” he includes.