Flora Drive site triggered, another mass market project on the way
Just last Friday another site along Upper Changi Road North and Flora Drive was triggered by an unnamed developer.
Although there are plenty of land to go around (16 plots left for 1H 2010), bids for government land sale sites are coming fast and furious. However unlike 2006-2007 when the frenzy was fed by en-bloc sales, it seems this bull run is fueled by plentiful government lands sales and so far sucking the froth out of any collective sale mania.
While getting empty land direct from the government is potentially less troublesome than acquiring via en-bloc purchase, developers might be missing out on the cash rich ex-residents looking for a new place to reinvest their money or just a familiar place to return to. And if all the developers just keep building condos on previously unoccupied land, one wonders if there are as many property investors or home buyers in Singapore as there are thought to be.
Anyway, here is the location map of the new site:
It ain't too a shabby area (well...it is between a Japanese Primary School and a Prison) but we are pretty sure most of you are aware of the massive amount of mass market condos already in that area. We wonder if this will be as hot.
Image: Googlemaps
via URA
Although there are plenty of land to go around (16 plots left for 1H 2010), bids for government land sale sites are coming fast and furious. However unlike 2006-2007 when the frenzy was fed by en-bloc sales, it seems this bull run is fueled by plentiful government lands sales and so far sucking the froth out of any collective sale mania.
While getting empty land direct from the government is potentially less troublesome than acquiring via en-bloc purchase, developers might be missing out on the cash rich ex-residents looking for a new place to reinvest their money or just a familiar place to return to. And if all the developers just keep building condos on previously unoccupied land, one wonders if there are as many property investors or home buyers in Singapore as there are thought to be.
Anyway, here is the location map of the new site:
It ain't too a shabby area (well...it is between a Japanese Primary School and a Prison) but we are pretty sure most of you are aware of the massive amount of mass market condos already in that area. We wonder if this will be as hot.
Image: Googlemaps
via URA
Posted on 15-03-2010 13:05 | By Francis
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