Evia Real Estate and Gamuda (Singapore) top bid S$318.9m for EC site at Anchorvale Crescent

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SINGAPORE: The Government Land Sales Programme had released an executive condominium (EC) site along Anchorvale Crescent that attracted seven bids. Evia Real Estate and Gamuda (Singapore) emerged as the top bidder of S$318,888,899 on 14 September 2019, Friday. The second highest offer was from CNQC Realty (Treasure) Investment of S$318,888,000.

The executive condominium site has a 17,137-sq-m land parcel, potentially yield a up to 550 units, reported by the Housing and Development Board (HDB). Based on the the EC bid price, Colliers International estimated that the Ola EC will have a break-even price of S$900-950 psf ppr, translate to an estimated launch price of S$1,100 psf.

ECs remains a attractive home investment to Singaporean

The EC market shown a good sign based on the demand of the past EC. From the low volume of launch of EC and the recent cooling measures implemented on 5th July 2018, home investors and upgraders have been caution looking into private condominium. The Executive Condominium remains attractive and still enjoy strong demand for its low entry price and stability in the challenging private property market.

The previous Rivercove Residences EC launched was nearly sold out with an entry launch price of S$973 psf. It is also a good opportunity for sandwich class to have a home upgrade with grant.

Early registrant can now have early preview of the Ola showflat + Enjoy Early-Bird Launch price.

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