Record price for Executive Condominium (EC) site in Jurong

An executive condominium (EC) site in Yuan Ching Road/Tao Ching Road opposite Jurong Country Club has attracted a top bid of S$418.53 per square foot per plot ratio (psf ppr), a new record high for an EC site. The site, which can yield about 610 homes, also received a total of 16 bids. the top bidder was a consortium comprising Evia Real Estate (5), BBR Development, CNH Investment and OKP Land. The buzz in the location, following strong sales at J Gateway condo last month, also contributed to the strong demand for the EC plot. Thanks to URA’s Jurong lake district master plan

Jurong Lake District1

Jurong Lake District1

Its $418.53 psf ppr bid suppressed  the previous EC land record of $392 psf ppr set for a plot in Tampines Central 7 in 2011 that is now being developed into The Trilliant. Past transaction shows that units at The Trilliant is sold at around $850 psf range.

The breakeven is estimated to be in the region of S$700-$750 psf, which translates to a selling price of about S$900 psf. This could set a all time high record for the EC market.

EC SITE JURONG YUAN CHING

EC SITE JURONG YUAN CHING

YUAN CHING ROAD / TAO CHING ROAD (EC)

LAND ATTRIBUTES
STATUS TENDER CLOSED ON 30 JUL 2013
SITE USE EC
SITE AREA (SQM) 20,213.1
SITE GFA (SQM) 60,639.3
HIGHEST BID ($M) 272.8
HIGHEST BID ($PSF) 418.0
NUMBER OF BIDS 16
DEVELOPER’S BREAKEVEN ( Estimated )
LAND ($M) 272.8
CONSTRUCTION ($M) 130.5
LAND FINANCING ($M) 19.1
PROFESSIONAL / LEGAL / TAXES ($M) 32.0
MARKETING / OTHERS ($M) 5.5
EST. TOTAL COST ($M) 459.9
EST. BREAKEVEN ($PSF PPR) 705

 

Source – Straits Time, HDB, Propertyguru, Squarefoot Research, URA

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2 responses

  1. […] Record price for Executive Condominium (EC) site in Jurong (paulngproperty.wordpress.com) […]

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