Government Land Sale 2014/2015
Out of the 19 government land sales, 2 plots are executive condo (EC).
The most interesting plot of GLS land is at Toa Payoh, located at Toa Payoh Lorong 4 (previous Mobil petrol kiosk) is considered geographically centre of Singapore. Since the completion of Trevista in 2011, there is no new private development and none expected in the near future as Toa Payoh is just a small town with not much land to spare.
The existing development, Trevista has an average price is $1,320.00 psf while the Trellis Tower, a freehold property completed in 2000, has an average price of $1,438.00 psf. This plot of GLS land is estimated to yield 535 units, if priced correctly with the right conditions, will see its demand surpassing supply.
Looking towards the South
From Holland Road to Beach Road, there are 7 GLS land for sale. Those current development on sale are already having a tough time competing for buyers, with this additional 7 GLS plots, situation can only get more challenging.
Those hoping that price will drop in this area might need to watch closely for the bidding price. If developers are willing to spend millions if not billions now and hire the best people to do their research, they cannot be making too big a mistake. If you believe buying properties in Singapore is a mid to long term investment, just trust them.
Let’s stroll to the East
Out of the 6 GLS land, the one at Siglap Road might generate the highest interest amongst developers. Currently a peaceful estate full of heritage, things are about to get livelier and more convenient with the new MRT line plying through this part of Singapore.
For the GLS land at Tampines, other than pricing correctly, developer must be very creative in coming up with very unique themes and facilities for those buyers scouting Tampines area. Otherwise, they must have a very strong financial balance sheet.
The plot at Bartley Road also seems interesting as it is just in between Paya Lebar and Bidadari, both key growth areas that will bring plenty of job opportunities.
Let’s cross over to North East
Decades ago, there are already plans to develop Punggol and its Waterway. Now, things are slowly coming up with Government’s intent to spend millions of dollars to develop this region. Although the GLS land at Lorong Lew Lian is not beside Punggol, somehow or rather, it can be considered to be part of it because travelling from Hougang to Punggol’s facilities is not that far after all.
Heading North
Currently bargain hunters’ favourite hunting spots for cheap suburban properties, the situation is expected to change in the near future especially for this GLS land in Woodlands Square. Just Woodlands itself (not including Sembawang) will have 5 MRT stations and it is also the closest to Malaysia once linked up by MRT, this area will be like the flourishing and prosperous old woodlands central in the 80s. The future GLS Mixed Development site at Woodlands Square will be in the centre-stage of hypes and activities with shopping malls, Cinema, Library and entertainment just at your doorsteps.
There will be a new EC coming up in Yio Chu Kang and being the closest EC to Core Central Region, it will generate strong interest among developers and buyers alike. Furthermore, there has been no EC development after Nouvo and this has pend up strong demand for EC in this region. The Government understands that EC plot in the North East part of Singapore might not attract too many bidders thus affecting the final bid price. In order to fetch good bidding price, GLS location becomes very crucial in this current market situation.Of course, I believe bringing affordable private housing closer to CCR will benefit citizens, who are now Government’s top priority in winning the hearts of its people.
Going West
Choa Chu Kang will also have a plot of land allocated for EC development. With all the hypes going on in the west and so much talk about possible High Speed Rail coming to Jurong East, transforming Jurong Lake District into our 2nd CBD and the PSA shifting to Tuas Mega Port by 2030, this Choa Chu Kang EC will most likely sell as well as Lakelife.
Analysed by Desmond Wong
Edited by Ryan Lee
Disclaimer:
The GLS diagram is accurate at the time of post, the author will not be liable should there be any inaccuracy or discrepancies arising due to the diagram. The above article are personal opinions of the author and reader discretion is advised.