Source : TODAY, Wednesday, August 29, 2007
More land has been released for landed housing —the first time the Government has done so since 2001.
Yesterday, the Urban Redevelopment Authority (URA) launched 12 land parcels, at the junction of Sembawang Road and Andrews Avenue, for sale by public auction.
Knight Frank’s research director Nicholas Mak estimated the land value at as much as $250 per square foot, and the breakeven cost per house at between $870,000 and $930,000 for terrace houses, and about $1.6 million for detached houses.
Mr Mak said the URA’s move could reflect a change in the Government’s thinking—providing variety instead of purely maximising land use through condominium projects. He added: “Maybe it’s due to feedback that there’s a demand for land properties.”
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