Real News‎ > ‎2013‎ > ‎September 2013‎ > ‎

6 Sep 2013

Developers trim prices as new reality bites

The impact is now there for all to see. Developers have been trimming launch prices for new private residential projects to adjust to the new market reality in the aftermath of the Total Debt Servicing Ratio (TDSR) framework's rollout in late June. A case in point is the 445-unit Thomson Three condo in Bright Hill Drive, being developed by UOL Group and Singapore Land.

FCL units' stunning bid for Yishun plot

A mixed-use commercial and residential plot at Yishun Central 1 drew a top bid from units linked to Frasers Centrepoint Ltd (FCL) that far surpassed that of the second-highest bidder and consultants' expectations, though the number of bidders were at the tail end of predictions. North Gem Development and FC North Gem Trustee put in a top bid of $1.4 billion, or $1,077 per square foot per plot ratio (psf ppr), for the 99-year leasehold site.