government land sales

The sites can yield 460 condos and 520 long-stay serviced apartments, respectively.

Holland Drive had three bids, compared to 15 offers received by neighbouring plot in 2018.

Experts expect 2-4 bids and a top bid price of $1,150-$1,380 psf ppr.

An expert forecasts investment sales to increase to $25b-$28b this year.

The upcoming Orchard project could sell for $3,000 psf.

Sites up for sale include seven private residential sites, an EC plot, a long-stay serviced apartments site and a mixed-use one.

URA officially pilots long-stay serviced apartments.

The site may attract one to five bidders, said experts.

The residential supply under the government programme was up to 3,505 units.

The supply will cater to the strong housing demand.

The highest bid reached by the property reached $347m, or $980 psf ppr.

Five sites make up the confirmed list.

Garnering 9 bids, the expected selling price of the site could fall between $1250 to $1300 psf.