The recent record land tender prices for state tenders in the Singapore government land sales programme has from analyst note that this will translate to higher year asking prices from property developers who are building new private properties such as executive condominiums as well as private housing condominiums. Some of these the private property developers came from overseas, such as China who are looking for undervalued properties in the city state.
Record Land Tender Price for Rivercove EC
For example, China’s Nanshan group and Logan property has submitted her top and record-breaking price of $1,000,000,000 for a plot of land right beside Queen style MRT station. This is the highest in the price for any government land sales programme in Singapore and set a new benchmark for property prices around in the Queenstown and Redhill area. Singapore remains highly attractive to foreign property investors due to the stable local government measures as well as the transparent buying procedures of condominiums in the citystate.
Foreign Developers Bidding for Anchorvale Lane Site
It is noted that some local property buyers are squeezed out of the local property tenders as foreign property developers tend to be richer in cash and are seasoned players come back to the local property developers. This for a property developers, particularly Chinese ones are feeling squeezed out by their own market in China and therefore are looking to invest in overseas property scenes such as Singapore’s property scene. In particular, the recent State tender for the new plot of executive condo beside Anchorvale Lane shows are record-breaking prices for surrounding executive condominiums in the area. Rivercove Residences is Hoi Hup Realty and Sunway Developments. The bid for the tender at Anchorvale Lane is at its record land tender prices for EC land located around in the Sengkang and Fernvale area.
High Bids for Recent Land Tenders at Rivercove Residences
Even though the property developer, which which secured the land tender was Hoi Hup Realty and Sunway Developments, which are local developers, but the anticipated bids for the plot of land by foreign developers has prompt them to submit a higher bid to secure the land. This might mean higher selling price for Rivercove residences EC, which is to be built on the plot of land. Nevertheless buyers seem to be encouraged by the location of Rivercove residences EC, which is located near to many amenities, as well as facilities.
In particular, Rivercove residences EC is close to many amenities such as the Sengkang sports and recreation centre, Sengkang general and community Hospital, as well as Sungei Serangoon where families and friends can have some quality time together. There are also outdoor activities available along the Sengkang Riverside Park. For residents around the Sengkang area looking for shopping centres, compass 1 shopping centre is located near to Rivercove residences EC. There are also many local delights located at Kopitiam Square, as well as the Jalan Kayu Eateries. There are many authentic delights located along Jalan Kayu Eateries which consists of row houses along Jalan Kayu Road.