Tampines EC at Ave 10 is expected to be the most sought-after among three lots for tender

The three lots are expected to provide approximately 2,000 residential units to the market.

Since the introduction of the cooling measures in July, the development of trademark geothermal has apparently declined. In the bidding activities of the land two months ago, only two parties and five parties participated in the bidding for the two private residential lots. Compared with the private land in the first half of the year, they attracted six to ten bids, and the number of bidders decreased significantly.

Song Mingwei, head of research at Colliers International Singapore, said that developers are now generally cautious in buying land. It is expected that they will continue to take a cautious stance in this bidding event and will not over-raise the price.

Tampines EC at Ave 10 is expected to be the most sought-after. For example, near Kampung Java, in March this year, a collective sale project, Makeway View, sold at a floor area ratio of 1,626 yuan per square foot. Song Mingwei said that the highest bid price in Kampung Java may only reach 1350 yuan per square foot.

However, she estimates that the EC project is welcomed by the sandwich layer. The Tampines EC section may attract seven to nine parties, with a maximum bid price equivalent to a floor area ratio of $560 per square foot.