{"id":55079,"date":"2017-05-17T10:35:24","date_gmt":"2017-05-17T03:35:24","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-pay-more-for-sites-amid-fierce-competition\/"},"modified":"2017-05-17T10:41:26","modified_gmt":"2017-05-17T03:41:26","slug":"developers-pay-more-for-sites-amid-fierce-competition","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-pay-more-for-sites-amid-fierce-competition\/","title":{"rendered":"Developers pay more for sites amid fierce competition"},"content":{"rendered":"


\n\u00a0
\nThe aggressive bidding for land at public tenders this year saw developers paying an average of 29 percent more for residential sites over comparable plots sold over the last five years, reported The Straits Times.
\nCushman & Wakefield noted that the figure is significantly higher compared to the 13 percent average premium that developers paid in the second half of 2016.
\n\u201cThis is testament to greater confidence (on the part of) developers in the residential market, bolstered by the positive response in new project launches in recent months,\u201d it said, noting that the hike in sales was partly attributed to the lifting of some of the cooling measures in March.
\nThe number of bidders at tenders has also increased to 13.3 in the first four months of 2017 from 8.25 in 2H 2015.
\nIn fact, interest from foreign players has intensified, with two of four land tenders awarded to foreign companies so far this year, noted Cushman & Wakefield.
\nWith this, analysts expect upcoming tenders for this year to be keenly contested as land-starved developers fight over a limited supply of land.
\nHowever, International Property Advisor chief executive Ku Swee Yong does not expect the government to \u201cput more sites out in its upcoming land sales programme in view of the large number of vacant units and the weak leasing market\u201d.
\nNotably, the Ministry of National Development is set to announce which sites will be available for the second half of 2017 next month.
\nAnd given the \u201cstrong liquidity-driven market\u201d, foreign developers are expected to outbid their local counterparts, possibly resulting to more private land acquisitions, said Cushman & Wakefield.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Developers pay more for sites amid fierce competition<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 The aggressive bidding for land at public tenders this year saw developers paying an...<\/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-55079","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-ekn","jetpack-related-posts":[{"id":72505,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-to-acquire-more-residential-sites\/","url_meta":{"origin":55079,"position":0},"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":[]},{"id":55939,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mainland-developers-shy-away-from-hong-kong-land-tenders\/","url_meta":{"origin":55079,"position":1},"title":"Mainland developers shy away from Hong Kong land tenders","date":"May 25, 2017","format":false,"excerpt":"\r Chinese companies continue to shy away from Hong Kong\u2019s land market with just one mainland backed company known to have submitted a bid for a residential site in Yuen Long. MTR Corp said eight developers had submitted bids for the parcel of land at Kam Sheung Road Station on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101227,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-use-tenders-to-their-advantage-as-they-seek-to-control-falling-property-prices\/","url_meta":{"origin":55079,"position":2},"title":"Developers use tenders to their advantage as they seek to control falling property prices","date":"November 14, 2018","format":false,"excerpt":"\r The recent spike in the number of relatively cheap flats offered through tender is a clever strategy by builders as it helps them to achieve higher prices without harming the reputation of their project in the event of poor sales and also prevents them from openly cutting prices, say\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104445,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mainland-chinese-developers-take-redevelopment-route-to-shore-up-hong-kong-land-bank-as-they-fail-to-win-government-tenders\/","url_meta":{"origin":55079,"position":3},"title":"Mainland Chinese developers take redevelopment route to shore up Hong Kong land bank as they fail to win government tenders","date":"February 27, 2019","format":false,"excerpt":"\r Mainland Chinese builders appear to be shifting their Hong Kong land bank strategy by acquiring old buildings for redevelopment, as fierce competition and Beijing\u2019s capital outflow restrictions make it difficult to secure plots in government tenders.Last year, they submitted 39 compulsory en-bloc sale applications to Hong Kong\u2019s Lands Tribunal,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81478,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charge-rate-hike-wont-dampen-collective-sale-fever\/","url_meta":{"origin":55079,"position":4},"title":"Development charge rate hike won't dampen collective sale fever","date":"March 1, 2018","format":false,"excerpt":"\r The development charges for non-landed homes is up by 22.8 percent. The Ministry of National Development, in consultation with the Chief Valuer, has raised the development charge (DC) rates for non-landed residential use by an average of 22.8 percent, on the back of aggressive land bidding by developers at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123929,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-hopefuls-march-ahead-with-tenders-despite-new-curbs\/","url_meta":{"origin":55079,"position":5},"title":"En bloc hopefuls march ahead with tenders despite new curbs","date":"December 22, 2021","format":false,"excerpt":"\r Despite the increased ABSD rates for developers, tenders for properties such as Lakepoint Condominium, Dublin Lodge, Sixth Avenue Centre, Baode Building, and Hillview Terrace will continue. Projects with ongoing collective sale tender exercise continue as planned even as analysts expect the new property cooling measures to take the wind\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/singapore-prime-district.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/55079"}],"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=55079"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/55079\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=55079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=55079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=55079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}