{"id":91630,"date":"2018-06-18T09:52:46","date_gmt":"2018-06-18T02:52:46","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/orchard-home-prices-may-breach-4000-psf-mark\/"},"modified":"2018-06-18T10:03:11","modified_gmt":"2018-06-18T03:03:11","slug":"orchard-home-prices-may-breach-4000-psf-mark","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/orchard-home-prices-may-breach-4000-psf-mark\/","title":{"rendered":"Orchard home prices may breach $4,000 psf mark"},"content":{"rendered":"


\nAggressive bidding seen for prime sites within the Orchard Road area.
\nDBS Group Research expects home prices in Orchard Road to reach or even surpass the $4,000 psf mark, given the aggressive bidding for prime sites within the area, reported Singapore Business Review.
\nHong Kong-listed Shun Tak Holdings, for instance, acquired two prime sites in Orchard Road \u2013 14 & 14A Nassim Road and 21 Orchard Boulevard (Park House) \u2013 for a total of $593.5 million.
\nMore: Park House In District 10 Sold For Record $2,910 Psf Ppr
\n\u201cThese are bold bids placed by Shun Tak as the bid prices imply that selling prices will test new highs in the Orchard vicinity,\u201d noted DBS analyst Derek Tan.
\nDBS estimates showed that breakeven levels for 14 & 14A Nassim Road and Park House stand at $3,100 psf and $3,300 psf respectively, after assuming a 10 percent bonus balcony space. This implies that projects in the pipeline may hit or even breach the $4,000 psf mark.
\n\u201cWe note with over 20 sites sold within the Core Central Region (CCR) year to date, supply in the CCR for new developments is building up in the near term and competition for buyers\u2019 attention is also heating up,\u201d said Tan.
\nWith nearly the whole stretch of Cuscaden Road up for sale including YTL\u2019s 3 Orchard by the Park as well as a Government Land Sales site won by SC Global, New World Development and Far East Consortium, it won\u2019t be a surprise if new records in property prices are set in the coming months.
\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…Orchard home prices may breach ,000 psf mark<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aggressive bidding seen for prime sites within the Orchard Road area. DBS Group Research expects...<\/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-91630","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-nPU","jetpack-related-posts":[{"id":91372,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-house-in-district-10-sold-for-record-2910-psf-ppr\/","url_meta":{"origin":91630,"position":0},"title":"Park House in District 10 sold for record $2,910 psf ppr","date":"June 14, 2018","format":false,"excerpt":"\r The freehold development along Orchard Boulevard was sold to a unit of Hong Kong-listed Shun Tak Holdings for $375.5 million. (Photo: CBRE) Park House, a freehold 60-unit development along Orchard Boulevard in District 10 has been sold for $375.5 million, which works out to a record $2,910 psf per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110315,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condominium-at-nassim-road-up-for-en-bloc-sale\/","url_meta":{"origin":91630,"position":1},"title":"Freehold condominium at Nassim Road up for en bloc sale","date":"August 29, 2019","format":false,"excerpt":"\r The four-storey condominium was completed in 2008, featuring two- and three-bedroom units as well as penthouses that range from 115 sq m to 343 sq m. The owners are asking for a reserve price of\u00a0$222.68 million or $3,508 per sq ft per plot ratio (psf ppr). Beaufort On Nassim,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82542,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/orchard-condo-sets-record-psf-prices\/","url_meta":{"origin":91630,"position":2},"title":"Orchard condo sets record psf prices","date":"March 13, 2018","format":false,"excerpt":"\r CDL\u2019s New Futura condo sold 48 units at an average price of over $3,200 psf. Most of the released units in CDL\u2019s recently launched New Futura project have been sold at an average price of $3,200 psf \u2013 the highest in five years, reported Singapore Business Review. The selling\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":91630,"position":3},"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":35632,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/three-apartment-buildings-near-orchard-road-sold-for-190-5m\/","url_meta":{"origin":91630,"position":4},"title":"Three apartment buildings near Orchard Road sold for $190.5m","date":"November 24, 2016","format":false,"excerpt":"\r No.3 Cuscaden Walk was sold to a consortium led by Sustained Land for $103.8 million. Source: CBRE and JLL Three prime residential buildings near Orchard Road have been sold to different developers for a total of $190.5 million, marketing agents CBRE and JLL said on Thursday (24 November). The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93260,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-up-for-en-bloc-sale-for-1-1b\/","url_meta":{"origin":91630,"position":5},"title":"Horizon Towers up for en bloc sale for $1.1b","date":"July 6, 2018","format":false,"excerpt":"\r The reserve price works out to a land rate of $1,964 psf per plot ratio. (Photo: JLL) Horizon Towers, a 211-unit residential development at Leonie Hill in District 9, has been launched for collective sale with a reserve price of $1.1 billion. Including the lease top-up premium of about\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\/91630"}],"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=91630"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/91630\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=91630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=91630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=91630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}