Sim Lian submitted the highest bid for Anchorvale Crescent Site
The bid of $157.8 million that translated to $280 per sq ft (psf) for Anchorvale Crescent plot from developer Sim Lian Group is expected to revive the competition among buyers in the area. Treasure Crest land parcel draw three bids after the tender closed.
And the 99-year leasehold EC site at Anchorvale with an area of 17,450.10 sqm was awarded to Sim Lian Land, Allgreen Properties followed with a bid of $143.9 million, while the lowest bid of $126.8 million is from Victoria Realty.
Treasure Crest Site got the lowest bid price since 2011
Treasure Crest EC houses 504 units of various choice for 3-bedroom, 3-bedroom Premium and 4-bedroom with communal facilities and Security Guard House with Car Barrier System. It is very close to Cheng Lim LRT station, Sengkang MRT and Bus Interchange.
The EC is among three EC sites rolled out by the Government amid expected strong demand for this popular housing option. It is expected to show a potential investment in line with the evolution of North- East Region, not only accessible to numerous recreation amenities, convenience, but also in the proximity of health care points, academic institutions.
Take an overlook on Treasure Crest EC at Anchorvale Cresent to explore more about Prime Location claiming The Exclusivity of Sim Lian EC Anchorvale Cresent.
The Sim Lian EC is expected to get the break-even price between $600 and $660 psf that results in the room for the developer to "undercut" selling prices of ECs surrounding. And then units of Treasure Crest EC can go with the price between $700 and $750 psf.
While SingHaiyi and Qingjian Realty moved units of Bellewaters and The Terrace with an average price of about $810 psf.
Mr Ong Teck Hui, national director of research and consultancy at JLL, said: "If EC buyers think that a nearby new project could come onto the market at lower prices, they might prefer to wait... This could slow the sales of other EC projects that are being actively marketed.