Government to release 2 prime GLS sites!

By The Folks @PropTalk - April 29, 2015 1 Comment
Two residential sites that could eventually offer 1,180 housing units were released by the Government on Wednesday (Apr 29).
The Housing and Development Board (HDB), as the Government's land sales agent, released the sites under the 1st half 2015 Government Land Sales Programme, it said in the press release.
The two sites are located at Toa Payoh Lorong 6 and Lorong 4, and Dundee Road, and were launched for sale under the Confirmed List. The former is expected to provide 535 housing units when fully developed, while the Dundee Road site is estimated to yield 645 units, it added.

The closing dates for the tender for the Toa Payoh site is on Jun 18, and for the Dundee Road site Jun 23, HDB said. More details are available on the agency's website
Source: CNA
The wife and I reckon that the two latest GLS sites released by the Government should garner quite a bit of attention from developers, given their good locations. But it'll be interesting to see how developers will play this one out. Despite the widely acknowledged over-supply situation in the private homes market (which is expected to last over the next 2 - 3 years), coupled with the depressed demand that will probably persist for awhile yet (at least until some of the cooling measures are relaxed), recent signs have indicated that buyers will still enter the market if the new projects have good locations and "suitably" priced. 

So will developers be "buoyed" and bid more aggressively than expected? Something tells us that they just might...especially when comes to the Dundee Road site.

Update (April 30):
It was opined in both ST and BT today that the Toa Payoh plot will be the one that will attract strong interests. This is especially in view of the muted take-up rate at Commonwealth Towers, which is located at a site nearby to the Dundee plot.

So the wife and I might be wrong on this one. Good thing we aren't the experts then...





1 comment to ''Government to release 2 prime GLS sites!"

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  1. Not too sure about the To a Payoh side. Air quality can be bad if it is near to the temple. Lot's of burning throughout the years, esp during qingming.

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