{"id":35282,"date":"2016-11-22T11:26:23","date_gmt":"2016-11-22T04:26:23","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-caution-exercised-in-bidding-activity\/"},"modified":"2016-11-22T11:35:01","modified_gmt":"2016-11-22T04:35:01","slug":"more-caution-exercised-in-bidding-activity","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-caution-exercised-in-bidding-activity\/","title":{"rendered":"More caution exercised in bidding activity"},"content":{"rendered":"


\nDevelopers have shifted their focus to the private market, with Roxy-Pacific signing a $33.25 million deal for Harbour View Gardens. (Photo: Colliers International)
\nEdmund Tie & Co believes property developers are becoming more cautious with bidding in government land sales (GLS) exercises, resulting in the clustering of bids within a narrow band, reported Singapore Business Review.
\nWith the sale of two land parcels within the GLS tender dominating Q3\u2019s investment sales, the recent bidding for GLS sites indicates that property developers have remained prudent despite the need to replenish their land banks, said the property consulting firm.
\n\u201cThe case in point was the public tender for the land parcel at Fernvale Road, which edged the second highest bid by a mere 0.005 percent,\u201d it explained.
\nEdmund Tie & Co also noted that developers have become more active in looking for land on the private market. OUE, for instance, acquired two land parcels at Nassim Road for $56.6 million, while Roxy-Pacific signed a conditional agreement to buy Harbour View Gardens for $33.25 million.
\nExcluding residential properties that cannot be subdivided into smaller plots, the total year-to-date investment sales amounted to S$9.6 billion. During the third quarter, investment sales volume stayed below the S$2 billion mark. Data compiled by Edmund Tie & Co showed that the lack of major transactions during the period saw investment sales drop from S$6.18 billion to S$1.76 billion.
\nMoving forward, the consultancy expects interest for Singapore properties to remain keen, even as most buyers are interested in distressed developments, or those properties with additional development potential.
\nIn fact, some institutional investors are interested in Singapore for preservation of value and diversification of risk, it said. It believes that the investment sales volume seen in 2014 and 2015 is achievable, buoyed by government land sales.
\n\u00a0
\nCheryl Marie Tay, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories, email cheryl@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…More caution exercised in bidding activity<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Developers have shifted their focus to the private market, with Roxy-Pacific signing a $33.25 million...<\/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-35282","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\/p75ss1-9b4","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":35282,"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":64372,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-to-focus-on-smaller-sites\/","url_meta":{"origin":35282,"position":1},"title":"Developers to focus on smaller sites","date":"August 23, 2017","format":false,"excerpt":"\r \u00a0 While homes sales have been on the uptrend, some developers are expected to focus on smaller residential developments at the H2 2017 Government Land Sales (GLS), revealed an Edmund Tie & Company report. This comes as developers try to mitigate the risk of incurring Additional Buyers Stamp Duties\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":35282,"position":2},"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":70174,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/speculation-abounds-on-uras-request-for-collective-sale-details\/","url_meta":{"origin":35282,"position":3},"title":"Speculation abounds on URA\u2019s request for collective sale details","date":"October 27, 2017","format":false,"excerpt":"\r The property market is rife with speculation on why the Urban Redevelopment Authority (URA) is requiring property agents marketing en bloc sales to submit detailed information on the tender results, reported the Business Times. One camp believes URA will use the information gathered to craft the Government Land Sales\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"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":35282,"position":4},"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":107587,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/braddell-views-failed-en-bloc-attempt-unsurprising-analysts\/","url_meta":{"origin":35282,"position":5},"title":"Braddell View\u2019s failed en bloc attempt unsurprising, analysts","date":"May 30, 2019","format":false,"excerpt":"\r Analysts attributed the property\u2019s failure to attract bidders to its size and the cooling measures rolled out last July. Launched for collective sale at a record price of $2.08 billion, Braddell View\u2019s failure to receive any bids at the close of its tender came as no surprise to market\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\/35282"}],"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=35282"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/35282\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=35282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=35282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=35282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}