Latest GLS at upper bukit timah and hillview

[edisonhui1220]

The latest GLS at upper bukit timah and hillview have been closed:

--Bukit Timah Link: land price 1343ppr,breakeven price ~2111psf (total unit ~ 160units)

--Hillview Rise: land price 1024ppr, breakeven price ~1702psf (total unit ~ 335units)

Comparing the latest launch project nearby: Linq (FH), median PSF is 2172 (landprice 1258ppr); Midwood (99yr), median PSF is 1666 (landprice 1068psf)

Congrats to all the Linq, Daintree, forett buyers
Congrats to midwood buyers purchased below 1702psf
A HUGE Congrats to FEO who bought JAB land at such a low price

 

[sellipad2]

FEO bought an integrated development with bus interchange, cannot use the standard construction costs and levy 20% margin on top of breakeven to calculate launch price. For dual envelope tender, its either you invest less in concept but bid higher for land, or vice versa. This bt timah GLS link GLS is a more suitable plot to apply the standard breakeven calculations

I find FEO bidding for Hillview plot a smart move, they basically will monopolize the D21 and D23 area and give false sense of value for JAB by launching hillview at 2k PSF. Buyers will think since they buying Hillview at 2k psf already, may as well swing over to D21 and look at new launch or subsale.

Bukit Sembawang also another powerhouse looking at their Liv@MB. They are quite good with landscaping and layout and launching at premium, both develoeprs going to set record for both areas.

 

[edisonhui1220]

FEO bought an integrated development with bus interchange, cannot use the standard construction costs and levy 20% margin on top of breakeven to calculate launch price. For dual envelope tender, its either you invest less in concept but bid higher for land, or vice versa. This bt timah GLS link GLS is a more suitable plot to apply the standard breakeven calculations

I find FEO bidding for Hillview plot a smart move, they basically will monopolize the D21 and D23 area and give false sense of value for JAB by launching hillview at 2k PSF. Buyers will think since they buying Hillview at 2k psf already, may as well swing over to D21 and look at new launch or subsale.

Bukit Sembawang also another powerhouse looking at their Liv@MB. They are quite good with landscaping and layout and launching at premium, both develoeprs going to set record for both areas.

ya, dont expect these two local giants can sell to us cheap cheap, they have the holding power

 

[sellipad2]

ya, dont expect these two local giants can sell to us cheap cheap, they have the holding power

i was at the Liv@MB showroom, i remembered Bukit Sembawang held on to the land for 2-3 years because they acquired enbloc at high. I believe buyers were stunned by the wide frontage and 80/20 landscape so willing to pay record for 99LH nestled in FH

I thought FEO will bid for the Bukit timah link plot to defend JAB, but they went for Hillview rise instead, its a grandmaster chess move. They basically monopolize all the large plots within the area now that all the mayfair, forett, verdale, midwood had sold out

the one who had last laugh is the LINQ buyers, FH at 2-2.2k PSF at center of action flanked between reserve residences and this bt timah link site

 

[TheCoolDude89]

FEO is indeed smart as Hillier is also under them. With all the development happening in the west area now, FEO will defend D23, considering CDL bid is only slightly below them and the tengah effect will spillover to D23. Interesting to see the west competition in the next 3-5 years.

 

[sellipad2]

FEO probaly disregarded the bukit timah link GLS site because its too small to pose a threat, only 160 units.

Anyway CEO of OrangeTee and Nic Mak very optimistic on projection, no wonder people say for Singapore property, today's high is tomorrow's low.

https://www.99.co/singapore/insider/bukit-timah-link-gls-site-top-bid-s1343-psf-ppr/
Referring to the number of bids received for both sites, Steven Tan, CEO of OrangeTee and Tie, commented that demand for the land parcels was healthy. Tan added, “A shopping mall and transport hub will be built next to this project, which will be a strong selling point for the development.” He predicts the eventual selling price will range from S$2,300 to S$2,400 psf.

As for the Hillview Rise site, Tan believes the eventual selling price may range between S$1,950 and S$2,050 psf

https://www.straitstimes.com/busine...state-owned-sites-in-bukit-timah-and-hillview
Prices for the future project at Bukit Timah Link could range between $2,440 psf and $2,500 psf, given the high land rate, said Mr Mak. The project at Hillview Rise could be launched with average prices ranging from $1,930 psf to $2,000 psf, he added.

 

[Hohohomoo]

FEO is indeed smart as Hillier is also under them. With all the development happening in the west area now, FEO will defend D23, considering CDL bid is only slightly below them and the tengah effect will spillover to D23. Interesting to see the west competition in the next 3-5 years.

On the contrary, hillier has not been performing well in resale transaction for many years. It seems to me that they are more of defending JAB.

 

[sellipad2]

With this $1024 PSF HV bid from FEO, i sense they are making a statement and going to launch high for RR.

Price point will tailor to target buyer segment for both sites and avoid cannibalization of sales.

Bukit sembawang usually do large projects only, surprised to see them overbidding for a boutique site.

 

[abcde83]

FEO is indeed smart as Hillier is also under them. With all the development happening in the west area now, FEO will defend D23, considering CDL bid is only slightly below them and the tengah effect will spillover to D23. Interesting to see the west competition in the next 3-5 years.

Then D23 FH landed should price at what level?

 

[TheCoolDude89]

Then D23 FH landed should price at what level?

Perhaps you can advise me?

 

[abcde83]

Perhaps you can advise me?

Current level seems under priced.
FH d23 for relatively new unit, 3000-3600sqft build in about 1100psf.

Land psf abt 2000-2500psf.

Quantum about 3.8-4mil for entry level.

If 99y condo 1500sqft selling 3mil.
Fh landed should be higher say 4.5mil onwards.

 

[sellipad2]

Just saw in business times FEO also bidded for bukit timah link site to defend JAB, just that they are #3 behind bukit sembawang and wingtai with $1086 psf bid.

This means potentially if they won the site they will launch it around $2k psf, which indirectly indicates RR is planned for $2.2k or higher

FH LINQ owners must be very happy, esp the 2k psf unit that was first sold in morning

https://www.businesstimes.com.sg/re...utm_source=telegram&utm_medium=social-organic

 

[ThinkCarefully]

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D23 ah D23 ah
You may like to Watch allan’s video before making your move...

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[sellipad2]

It's less about district and more on entry price. Basically D23 buyers tend to overpay, skywood and eco sanctuary did relatively alright compared to the one on top of HillV2 mall

 

[bujingyun82]

https://www.straitstimes.com/singap...s9njf2sJYLY3WiNKh7Grr4Yd9gpU4ENzn7JmkJLdpBja0
Linq, Reserve Residences, future GLS plot now have direct access to rifle range nature park which also links to railway corridor and the larger Bukit timah nature reserve.