{"id":79846,"date":"2018-02-14T10:42:55","date_gmt":"2018-02-14T03:42:55","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-land-sales-could-reach-16b-in-2018\/"},"modified":"2018-02-14T11:03:11","modified_gmt":"2018-02-14T04:03:11","slug":"residential-land-sales-could-reach-16b-in-2018","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-land-sales-could-reach-16b-in-2018\/","title":{"rendered":"Residential land sales could reach $16b in 2018"},"content":{"rendered":"


\nDevelopers are bidding more aggressively for land amid estimations that they are sitting on a $22.9 billion war chest. (Photo: Nikki De Guzman)
\nProperty consultancy Cushman & Wakefield thinks that land purchases in Singapore by real estate developers could hit $16 billion this year, with more record land deals emerging, reported Bloomberg.
\nThis is because Cushman\u2019s research director Christine Li believes that developers have accumulated plenty of cash since the housing market was previously weak.
\nNow that the sector is recovering, they are bidding more aggressively for land, she explained, estimating that home builders are sitting on a $22.9 billion war chest from selling homes and as loans from banks.
\n\u201cAgainst this backdrop, land deals could continue to set record prices in 2018, especially for sites with little competition in the vicinity,\u201d she said.
\nLast December, Frasers Property bought a residential site in Jiak Kim Street near the Singapore River for $955.4 million ($1,733 psf), the highest in terms of psf.
\nFurthermore, if the $16 billion overall tally is achieved for 2018, it will exceed the $12.8 billion worth of residential investment sales involving en bloc and public land deals in 2017 as revealed by Colliers International.
\n\u201cWith the residential market on the cusp of a sustained recovery, developers are likely to continue replenishing their land banks, via public land tenders and private collective sales,\u201d noted Tricia Song, Colliers International\u2019s director and research head for Singapore.
\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…Residential land sales could reach b in 2018<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Developers are bidding more aggressively for land amid estimations that they are sitting on a...<\/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-79846","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-kLQ","jetpack-related-posts":[{"id":127978,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/soaring-construction-costs-may-discourage-hong-kongs-developers-from-bidding-aggressively-for-land\/","url_meta":{"origin":79846,"position":0},"title":"Soaring construction costs may discourage Hong Kong\u2019s developers from bidding aggressively for land","date":"July 26, 2022","format":false,"excerpt":"\r Higher costs driven by a surge in materials prices are likely to make property developers more restrained when they are bidding for land, according to analysts.\r \r Source : South China Morning Post\r Read more...Soaring construction costs may discourage Hong Kong\u2019s developers from bidding aggressively for land","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54919,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-bid-more-aggressively-amid-signs-of-housing-market-rebound\/","url_meta":{"origin":79846,"position":1},"title":"Developers bid more aggressively amid signs of housing market rebound","date":"May 16, 2017","format":false,"excerpt":"\r With buyers snapping up units at projects such as Seaside Residences (pictured), new home sales more than doubled from the same month last year. The spike in new home sales following an easing of property cooling measures saw more developers aggressively bidding at land auctions in Singapore, reported Bloomberg.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35282,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-caution-exercised-in-bidding-activity\/","url_meta":{"origin":79846,"position":2},"title":"More caution exercised in bidding activity","date":"November 22, 2016","format":false,"excerpt":"\r Developers have shifted their focus to the private market, with Roxy-Pacific signing a $33.25 million deal for Harbour View Gardens. (Photo: Colliers International) Edmund Tie & Co believes property developers are becoming more cautious with bidding in government land sales (GLS) exercises, resulting in the clustering of bids within\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":136043,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-developers-shell-out-us7-5-billion-for-19-lots-on-offer-in-shanghais-first-land-auction-in-2023-pointing-to-property-markets-recovery\/","url_meta":{"origin":79846,"position":3},"title":"Chinese developers shell out US$7.5 billion for 19 lots on offer in Shanghai\u2019s first land auction in 2023, pointing to property market\u2019s recovery","date":"April 22, 2023","format":false,"excerpt":"\r The four-day land sale, which ended on Friday, saw more than 50 property developers engaged in intense bidding that resulted in 15 plots selling higher than their floor price.\r \r Source : South China Morning Post\r Read more...Chinese developers shell out US.5 billion for 19 lots on offer in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89991,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developers-finalists-in-battle-for-us2-1-billion-site-in-shanghai-shopping-heartland\/","url_meta":{"origin":79846,"position":4},"title":"Hong Kong developers finalists in battle for US$2.1 billion site in Shanghai shopping heartland","date":"May 31, 2018","format":false,"excerpt":"\r Hong Kong developers Shui On Land and Hongkong Land are vying for a prime plot of land in central Shanghai, a move that underscores the rising appeal of China\u2019s top cities among overseas companies. Two companies have entered the final stage of bidding for the land, according to a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94611,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shanghai-scraps-land-sales-worth-us1-5-billion-in-20-days-as-developers-lost-mood-to-shop-amid-tightened-controls-and-glut\/","url_meta":{"origin":79846,"position":5},"title":"Shanghai scraps land sales worth US$1.5 billion in 20 days as developers lost mood to shop amid tightened controls and glut","date":"July 25, 2018","format":false,"excerpt":"\r Shanghai has cancelled five planned land sales worth a total of 10 billion yuan (US$1.47 billion) in 20 days, underscoring dampened appetite of developers weighed on by tightened funding and tepid sales. The latest abandoned bidding for a prime site in Yangpu district to sell from a starting price\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\/79846"}],"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=79846"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/79846\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=79846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=79846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=79846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}