What's the predicted price for new exec condos in Upper Serangoon Road?

Estimates hover at around $700 psf based on a break-even cost of roughly $650 psf, said CBRE.

This is based on the closed tender for the Executive Condominium site, which sits in Upper Serangoon Road to the east of Hougang HDB.

Seven bids were submitted for the tender, which CBRE said shows continued interest in mass-market projects.
 
"The site drew seven bids, showing developers’ interest in the housing market for the masses. The top bid for the subject site, $141.48 million or $303 psf/plot ratio reflects a breakeven cost around $650 psf. It is likely that the new project will be priced around $700 psf. The same developer also won an EC site at Pasir Ris Drive 3 in October 2011 at $122.20 million or $291 psf/plot ratio," it said.

“The subject site is located at Upper Serangoon View/ Upper Serangoon Road, on the eastern boundary of Hougang HDB estate. Its immediate neighbour is Boathouse Residences private condominium which is currently under construction. The Florida executive condominium (fully privatised) and Rio Vista are also situated in the neighbourhood. Hougang Mall,Houganag Plaza, Hougang MRT station and bus interchange are located at Hougang Central which is a short drive away. 
 
"Twin Waterfalls EC (728 units) in Punggol, which was opened for sale in February, sold over 250 units at the average price of $698 psf. Units in RiverParc EC  in Punggol and Austville EC in Sengkang were transacted at the median price of $687 psf and $681 psf respectively in January to mid-February 2012. RiverParc is fully sold while Austville is 76 per cent sold," it said further.