Together with the country tender final, City Developments Ltd (CDL) has now emerged as the top bidder for Whistler Grand in West Coast Vale. From the 3 private housing sites which were up for lease, CDL got two sites with 99-year leasehold and among these is Whistler Grand situated at West Coast Vale. The property team had placed the best bids including a S$472.4M bid for the parcel of property in West Coast Vale and S$212.2M for the property in Exotic Road, near the Dhoby Ghaut MRT Station. The 3rd website that's found along the Chong Kuo Road found the partnership between OKP Land and Lian Shortly Holdings placing the maximum bid of S$43.95 M.
In case CDL will be given these 2 sites, they're researching the option of constructing three residential towers with 8-10 tales with 200 apartments as well as a car park in the basement to your property found along Handy Road. CDL will change the conservation building and convert it into a clubhouse. According to Sherman Kwek, the chief executive of CDL, the land team has been selective in areas where they place bids and the 2 websites in which they put the best bid have great potential. Together with the housing marketplace in Singapore beginning to recover gradually, the group's main focus is to search for the ideal opportunities that will increase CDL's property bank locally.
Whenever you are likely to buy a house sometimes you will get into bidding wars with other people who want the same home as you. If people have already fallen in love with the home they may push their offer cost when they find out others want the exact same home. One of the things that you could do is to learn the costs of the other houses in the region. This way you have a idea about what things are going for and when it's under priced you can figure out if you would like to bid or look elsewhere.
For West Coast Vale, CDL had suggested towers with 36 stories. But, Singapore's Urban Redevelopment Authority has given that the maximum residential units for this house is 730.
Be sure you get all the final documents ahead of time. Moving into final blind can cause a very long meeting in addition to oversights. Read the documents thoroughly ahead of time and ask any questions before closing. This will make for a much smoother transaction on the day that you go into sign.
Tricia Song who's the head of Colliers International in Singapore noted that CDL's bid for the storyline in West Coast Vale Whistler Grand was 35 percent more compared to what was compensated for the website of the Twin View Project. Regardless of the abundant source, Song said that what could have improved the confidence of developers in this location is also the local Parc Riviera that has 752 units and 97% of it had been sold by December 2017. Parc Riviera had an average selling price of about S$1,200 per square foot within just 13 weeks after it was formally launched. Song estimates that breakeven for the plot in West Coast Vale to be S$1,250 per square foot using an average selling price of between S$1,400 to 1,500 per square foot.
Property Consultants have said that even with numerous tenders simultaneously closing in for Whistler Grand, it has little impact in regards to bidding prices. Based on JLL's national manager, the best bids on the 3 bids exceeded the expectations but they will not interfere with the access to the collective sales-sites in the marketplace.
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