{"id":28903,"date":"2016-10-07T12:19:34","date_gmt":"2016-10-07T05:19:34","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/gls-bids-rise-amid-strong-demand\/"},"modified":"2016-10-07T12:22:16","modified_gmt":"2016-10-07T05:22:16","slug":"gls-bids-rise-amid-strong-demand","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gls-bids-rise-amid-strong-demand\/","title":{"rendered":"GLS bids rise amid strong demand"},"content":{"rendered":"


\nFewer Government Land Sales launches this year has contributed to fierce competition among developers and escalating land prices. (Photo: Nikki De Guzman)
\nThe number of bids for Government Land Sales (GLS) launches has been on the rise this year amid fierce competition among developers to acquire land sites, reported Singapore Business Review citing a Maybank Kim Eng report.
\nAverage bids for executive condominium (EC) sites climbed from seven to 10 this year, while bids for private residential sites remained at 10.
\nMaybank Kim Eng also highlighted an increase in land prices as property developers locked horns.
\n\u201cFierce competition has led to escalating land prices this year, arising from limited land-banking options as the government scales back GLS launches this year,\u201d it said.
\nIn fact, the highest bid for a Sengkang site, which stands at $287 million, was 17 percent above the price of another nearby site sold in August 2014.
\nA similar trend was also seen in the EC market, where prices have soared 16 to 25 percent from last year.
\n\u201cWe expect continued keen interest in the remaining three residential land parcels for launch in the next few months,\u201d the report added.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…GLS bids rise amid strong demand<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Fewer Government Land Sales launches this year has contributed to fierce competition among developers and...<\/p>\n","protected":false},"author":1,"featured_media":0,"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-28903","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-7wb","jetpack-related-posts":[{"id":114103,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-cautious-gls-bid-causes-8-20-drop-in-land-prices\/","url_meta":{"origin":28903,"position":0},"title":"Developers\u2019 cautious GLS bid causes 8-20% drop in land prices","date":"January 14, 2020","format":false,"excerpt":"\r The muted sales take-up rates seen in existing projects in the vicinity of both sites are possible reasons that developers have placed lower bids. The cautious approach employed by developers towards bidding for land has caused an 8% to 20% drop in land prices including the 5% Additional Buyer\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30970,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-october-2016\/","url_meta":{"origin":28903,"position":1},"title":"News Roundup (October 2016)","date":"October 21, 2016","format":false,"excerpt":"\r \u00a0 \u00a0 Our top Singapore property stories. Shunfu Ville sale dispute could drag on, prove costly for owners The sale of Shunfu Ville, the largest en bloc deal since 2007, has hit a brick wall. 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By Chang Hui Chew After a relatively long period of lacklustre performance, the new launch private condo\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/05\/GV-113.jpg?fit=645%2C407&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":113517,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bids-for-jalan-bunga-rampai-and-irwell-bank-rd-gls-sites-lower-than-expected\/","url_meta":{"origin":28903,"position":3},"title":"Bids for Jalan Bunga Rampai and Irwell Bank Rd GLS sites lower than expected","date":"January 10, 2020","format":false,"excerpt":"\r Developers \u201ccontinue to adopt a more prudent approach to land bids, amid market uncertainties, ample upcoming supply, and the cooling measures which remain in place\u201d, said Tricia Song, head of research for Singapore at Colliers International. Photo: URA The Urban Redevelopment Authority (URA) has announced the closings tenders for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86625,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cuscaden-road-site-sets-new-gls-record-of-2377-psf-ppr\/","url_meta":{"origin":28903,"position":4},"title":"Cuscaden Road site sets new GLS record of $2,377 psf ppr","date":"April 27, 2018","format":false,"excerpt":"\r Location map of the Cuscaden Road site. (Photo: URA) The tender exercises for three residential sites closed on Wednesday (26 Apr) with relatively bullish bidding from developers, with the top bid for the Cuscaden Road site setting a new benchmark for a 99-year leasehold site. At nearly $410 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":72505,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-to-acquire-more-residential-sites\/","url_meta":{"origin":28903,"position":5},"title":"Developers to acquire more residential sites","date":"November 22, 2017","format":false,"excerpt":"\r At least 13 housing site tenders are expected to close for the remainder of the year, reported Singapore Business Review, citing a report from Maybank Kim Eng. These land plots are projected to yield an additional 3,600 dwellings, with most located in the central part of the city-state, said\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/28903"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=28903"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/28903\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=28903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=28903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=28903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}