First EC tender under new rules draws record-high bid from developers

The Housing and Development Board (HDB) had changed the rules for ECs in hopes that it would drive down developers’ bids.

The site at Canberra Drive. (Image: Google Street View)

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SINGAPORE: The first executive condominium (EC) Government Land Sales (GLS) tender under the new rules has drawn a record-high bid.

Analysts had expected the site at Canberra Drive , released by the Housing and Development Board (HDB) in May, to attract more conservative bids in light of the new rules.

These include the doubling of the minimum occupation period to 10 years, the removal of the Deferred Payment Scheme, and the increased quota and priority period for first-time buyers.

Canberra Drive is also the first EC tender to close after the monthly household income ceiling was raised in August to S$18,000 (US$14,060).

CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less The 11,535 sq m site, which is expected to yield about 185 units, drew 13 bids after the tender closed on Thursday (Oct 1). According to the provisional results released by HDB on Thursday night, the top bid was a joint bid from SNC Realty, HS Invesco and Kay Lim Realty for S$163,903,000. This translates to a record S$825 per square foot per plot ratio (psf ppr), higher than the previous record of S$794 psf ppr that Sim Lian Group submitted for a Woodlands Drive 17 EC plot in January this year. In total, the Canberra plot received 13 bids, the highest since 17 bids were received for a plot in Sumang Walk, Punggol, in 2017.

The 11,535 sq m site, which is expected to yield about 185 units, drew 13 bids after the tender closed on Thursday (Oct 1).

According to the provisional results released by HDB on Thursday night, the top bid was a joint bid from SNC Realty, HS Invesco and Kay Lim Realty for S$163,903,000.

This translates to a record S$825 per square foot per plot ratio (psf ppr), higher than the previous record of S$794 psf ppr that Sim Lian Group submitted for a Woodlands Drive 17 EC plot in January this year.

In total, the Canberra plot received 13 bids, the highest since 17 bids were received for a plot in Sumang Walk, Punggol, in 2017.

ECs were introduced in 1995 to provide an option for higher-income Singaporeans who aspire to own private housing.

They are developed and sold by private developers, with design features and facilities similar to private condominiums.

The new rules, announced in May, are part of efforts to help first-time home buyers secure a unit. National Development Minister Chee Hong Tat said during the announcement that he had hoped the new measures would “result in developers reducing their bids and the prices for their ECs”.

The median prices of new EC units have soared in recent years, with recent launches going at record prices.

PropNex’s head of research and content Wong Siew Ying said it appeared that the new EC measures did not deter developers.

“The number of bids and top bid price for the Canberra Drive EC plot have far exceeded our expectations,” she added.

“We think it is possible that the tender drew livelier participation because the new EC measures were expected to make bidding more cautious, giving developers reason to take part on the chance that a more moderate bid might succeed.”

If the site is awarded to the top bidders, Ms Wong said it is projecting that the average selling price of this EC project may be around S$1,900 psf.

The top few bids were clustered tightly. The second highest bid was S$803 psf ppr from Intrepid Investments and TID Residential, and the third was S$798 psf ppr from an Apex Asia-led consortium.

When the tender was launched, PropNex had expected a top bid of around S$620 psf ppr to S$660 psf ppr.

ERA Singapore’s key executive officer Eugene Lim said the broad field of 13 bidders showed that developers’ enthusiasm for EC land “remains unabated”, as they navigate through “unchartered territory” with the new EC rules and greater first-timer eligibility.

“Despite the strong turnout, the sizeable spread of 128.5 per cent between the highest and lowest bids is revealing of vastly differing outlooks for future EC reception,” he added.

“While optimistic bidders likely saw upside in an expanded pool of eligible first-timers, more conservative players could have factored in greater price sensitivity from this buyer group, especially without the cushion of the Deferred Payment Scheme.”

Mr Lim noted that the site was roughly a 10-minute walk from Canberra MRT station, offering a “strong selling point”.

The land is also close to several key neighbourhood amenities, such as Sembawang Shopping Centre, Canberra Plaza, Sembawang Primary School and the Bukit Canberra integrated hub.

Although the site was small, developers may have viewed this “positively”, hedging it against market uncertainty, he added.

Deputy Group CEO of Realion (OrangeTee & ETC) Group Justin Quek said that of the sites launched for tender in Sembawang recently, this can be considered “the most attractive”.

This site was closest to the MRT Station, and with a longer minimum occupation period of 10 years taking effect in this project, location may have become a decisive factor for buyers.

“Moreover, the recent revision of the income ceiling to S$18,000 may also result in stronger demand when the project launches as more couples become eligible to purchase an EC,” he added.

“We expect the EC project to garner keen buying interest when it launches in the future.”

Another EC plot in Admiralty Walk has been launched for tender and will close on Dec 17.

The results from that tender will “give a second reading” on how developers are valuing EC land under the new measures, said Ms Wong.

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建屋发展局 (HDB) 修改了执行共管公寓 (EC) 的规则，希望以此降低开发商的投标价格。

堪培拉大道上的工地。（图片：谷歌街景）

这段音频是由人工智能工具生成的。

新加坡：新规实施后的首个执行共管公寓（EC）政府土地销售（GLS）招标吸引了创纪录的高价中标。

分析人士曾预计，鉴于新规，建屋发展局 (HDB) 于 5 月推出的堪培拉大道地块将吸引更多保守的竞标。

这些措施包括将最低居住年限延长一倍至 10 年，取消延期付款计划，以及增加首次购房者的配额和优先期限。

堪培拉大道也是自 8 月份家庭月收入上限提高到 18,000 新元（14,060 美元）以来第一个结束的 EC 招标项目。

CNA游戏 猜词游戏 逐行破解单词 流行词游戏 用给定的字母组成单词 迷你数独 小谜题，脑力挑战 迷你填字游戏 小方格，大挑战 单词搜索 尽可能多地找出单词 显示更多 显示更少 这块面积为11,535平方米的地块预计将建造约185个单元，在周四（10月1日）招标结束后，共收到13份标书。根据建屋发展局（HDB）周四晚间公布的初步结果，最高出价是SNC Realty、HS Invesco和Kay Lim Realty的联合标书，价格为163,903,000新元。这相当于每平方英尺容积率（psf ppr）825新元，创下新纪录，高于今年1月Sim Lian Group为兀兰17号路执行共管公寓（EC）地块提交的每平方英尺容积率794新元的此前纪录。堪培拉地块共收到 13 份投标，是自 2017 年榜鹅 Sumang Walk 地块收到 17 份投标以来的最高投标数量。

该地块面积为 11,535 平方米，预计将建成约 185 套住宅单元。招标于周四（10 月 1 日）结束，共收到 13 份投标书。

根据建屋发展局周四晚间公布的初步结果，最高出价是 SNC Realty、HS Invesco 和 Kay Lim Realty 的联合出价，金额为 163,903,000 新元。

这意味着每平方英尺容积率 (psf ppr) 的价格将达到创纪录的 825 新元，高于今年 1 月 Sim Lian Group 为 Woodlands Drive 17 EC 地块提交的 794 新元 psf ppr 的先前纪录。

堪培拉地块共收到 13 份投标，是自 2017 年榜鹅 Sumang Walk 地块收到 17 份投标以来的最高投标数量。

执行共管公寓（EC）于 1995 年推出，旨在为渴望拥有私人住宅的高收入新加坡人提供一种选择。

它们由私人开发商开发和销售，设计特点和设施与私人公寓类似。

五月份公布的新规旨在帮助首次购房者获得心仪的房产。国家发展部长徐芳达在宣布新规时表示，他希望这些新措施能够“促使开发商降低投标价格和执行共管公寓（EC）的售价”。

近年来，新型电动马桶的平均价格飙升，最近推出的产品价格更是创下历史新高。

PropNex 研究与内容主管黄秀英表示，新的执行委员会措施似乎并没有阻止开发商。

她补充说：“堪培拉大道EC地块的投标数量和最高投标价格远远超出了我们的预期。”

“我们认为，此次招标之所以吸引了更多积极参与者，可能是因为欧盟的新措施预计会使投标更加谨慎，从而使开发商有理由参与，希望较为温和的报价能够成功。”

黄女士表示，如果该地块授予出价最高的竞标者，预计该执行共管公寓项目的平均售价可能在每平方英尺 1900 新元左右。

前几名的报价非常接近。第二高的报价是Intrepid Investments和TID Residential联合出价的每平方英尺803新元，第三高的报价是由Apex Asia牵头的财团出价的每平方英尺798新元。

招标开始时，PropNex 预计最高中标价约为每平方英尺 620 新元至 660 新元。

ERA Singapore 的主要执行官 Eugene Lim 表示，13 家竞标者的广泛参与表明，开发商对 EC 土地的热情“依然不减”，尽管他们在新的 EC 规则和更宽松的首次购房资格下摸索前行，进入了“未知领域”。

“尽管参与人数众多，但最高出价和最低出价之间高达 128.5% 的差距表明，人们对欧盟未来接受度的看法截然不同，”他补充道。

“虽然乐观的竞标者可能看到了扩大合格首次购房者群体带来的上涨空间，但较为保守的参与者可能已经考虑到了这一购房群体对价格更为敏感，尤其是在没有延期付款计划的缓冲的情况下。”

林先生指出，该地点距离堪培拉地铁站步行约 10 分钟，是一个“强有力的卖点”。

该地块还靠近几个重要的社区配套设施，如三巴旺购物中心、坎贝拉广场、三巴旺小学和武吉坎贝拉综合中心。

他补充说，虽然这块地很小，但开发商可能对此持“积极”态度，以此来对冲市场的不确定性。

Realion（OrangeTee & ETC）集团副首席执行官郭俊杰表示，在最近三巴旺推出的招标项目中，这处地块可以被认为是“最具吸引力的”。

该地块距离地铁站最近，而且该项目实行了 10 年的较长最低居住期限，因此地理位置可能成为买家的决定性因素。

“此外，最近将收入上限提高到 18,000 新元，也可能导致该项目推出时需求更加强劲，因为更多夫妇将有资格购买执行共管公寓，”他补充道。

“我们预计EC项目未来推出时将引起消费者浓厚的兴趣。”

海军部步行街的另一块执行共管公寓地块已开始招标，将于 12 月 17 日截止。

黄女士表示，此次招标的结果将“再次反映”开发商在新措施下如何评估执行共管公寓土地的价值。

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