{"id":123996,"date":"2021-12-28T03:22:20","date_gmt":"2021-12-27T20:22:20","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bukit-batok-ec-site-to-receive-keen-interest-despite-new-curbs\/"},"modified":"2021-12-28T12:02:52","modified_gmt":"2021-12-28T05:02:52","slug":"bukit-batok-ec-site-to-receive-keen-interest-despite-new-curbs","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bukit-batok-ec-site-to-receive-keen-interest-despite-new-curbs\/","title":{"rendered":"Bukit Batok EC site to receive keen interest despite new curbs"},"content":{"rendered":"


\nThe Bukit Batok West Avenue 8 EC site is expected to yield about 375 residential units. Source: URA
\nDespite the introduction of new property cooling measures, market watchers expect the executive condominium (EC) site at Bukit Batok West Avenue 8 to receive keen interest from developers.
\nThe Housing and Development Board (HDB) launched the 12,449.3 sq m site under the Confirmed List of the second half of 2021 Government Land Sales (GLS) programme. It has a maximum gross floor area of 37,348 sq m and a maximum building height of 60 to 70 m Singapore Height Datum (SHD).
\nThe 99-year leasehold site is expected to yield around 375 residential units.
\n\u201cWe expect the EC site to attract a fairly healthy turnout of bidders, given the diminishing supply of new EC units in the market, as well as developers potentially seeking a less-risky development site to add to their land inventory,\u201d said PropNex Realty in a statement.
\n\u201cECs have always been popular among homebuyers owing to their more affordable prices. In addition, ECs tend to appeal to the groups of buyers, such as first-time Singaporean home buyers or HDB upgraders who are least affected by the new cooling measures.\u201d
\nThe measures include higher Additional Buyer\u2019s Stamp Duties (ABSD), tighter Loan-to-Value (LTV) limits and lower Total Debt Servicing Ratios (TDSR).
\nHuttons Asia pointed that a total of 7,788 three-room to five-room HDB flats completed between 2015 and 2018 \u201cwill offer a potential pool of HDB upgraders\u201d for the EC project once it is launch for sale in 2023.
\nThe site is situated within Bukit Batok\u2019s suburban area where private housing supply is limited. The last private housing project within the area was Le Quest in Bukit Batok West Avenue 8, which witnessed hot take-up during its launch in August 2017.
\nPropNex believes the new EC project \u201cwill be popular amongst HDB upgraders in the area looking for a private home within the same estate\u201d.
\nThe site could attract up to 10 bidders, with bids ranging from $580 to $630 per sq ft per plot ratio (psf ppr), said Huttons.
\nPropNex, on the other hand, expects the bids to be moderate due to the \u201clack of amenities in this neighbourhood compared to the Tampines Street 62 EC site as well as ongoing concerns over rising construction costs amongst developers\u201d.
\nThe EC site at Tampines Street 62 set a new record in July 2021, with the top bid received at $422 million or $659 psf ppr.
\nMoreover, an adjacent EC plot at Bukit Batok West Avenue 5, which is set to be launched for tender in June 2022, could pose as competition for the site at Bukit Batok West Avenue 8. Notably, the site is larger and could yield 495 units.
\nWith this, PropNex expects the top bid for the EC site at Bukit Batok West Avenue 8 to range between $241.2 million and $261.3 million, or about $600 to $650 psf ppr.
\nThe tender for the site at Bukit Batok West Avenue 8 closes on 8 March 2022.
\n\u201cThe tender closing for this site will be batched with a residential site at Dairy Farm Walk, which was launched by URA in October 2021 under the Confirmed List of 2H2021 GLS Programme,\u201d said HDB.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Bukit Batok EC site to receive keen interest despite new curbs<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Bukit Batok West Avenue 8 EC site is expected to yield about 375 residential...<\/p>\n","protected":false},"author":1,"featured_media":123997,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-123996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/BUKIT-BATOK-AVE-8-LAND-PARCEL-1.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-wfW","jetpack-related-posts":[{"id":123810,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-launches-site-at-bukit-batok-west-avenue-8\/","url_meta":{"origin":123996,"position":0},"title":"HDB launches site at Bukit Batok West Avenue 8","date":"December 15, 2021","format":false,"excerpt":"\r A site with an area of 12,449.3 sq m has been launched for sale via public tender at Bukit Batok West Avenue 8. Source: HDB A residential site at Bukit Batok West Avenue 8 has been launched for sale via public tender, the Housing and Development Board (HDB) revealed.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/BUKIT-BATOK-AVE-8-LAND-PARCEL.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":122745,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dairy-farm-walk-residential-site-launched-for-sale\/","url_meta":{"origin":123996,"position":1},"title":"Dairy Farm Walk residential site launched for sale","date":"October 22, 2021","format":false,"excerpt":"\r Dairy Farm Walk residential site launched for saleThe Dairy Farm Walk residential site has a land area of 15,663.2 sq m, with a maximum gross floor area of 32,893 sq m. Source: URA A residential site at Dairy Farm Walk has been launched for sale via public tender, revealed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/dairy_farm_aerial_view-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":139222,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/altura-ec-sold-88-of-its-units-after-second-timer-balloting-new-private-home-sales-plunge-72-1-in-august-2023-and-more\/","url_meta":{"origin":123996,"position":2},"title":"Altura EC Sold 88% of its Units After Second-timer Balloting, New Private Home Sales Plunge 72.1% in August 2023, and More","date":"September 18, 2023","format":false,"excerpt":"\r Altura EC Sold 88% of its Units After Second-timer Balloting, New Private Home Sales Plunge 72.1% in August 2023, and More12 to 18 September 2023 Altura, an executive condominium (EC), saw 95 units snapped up during its second-timer balloting event on 16 September 2023, bringing its overall take-up rate\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/09\/altura-executive-condo-ec-singapore-cover-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":100708,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/le-quest-set-for-success\/","url_meta":{"origin":123996,"position":3},"title":"Le Quest set for success","date":"October 31, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the Le Quest mixed-use development in Bukit Batok. 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