IN THE latest sign of a weakening property market, a tender for an executive condominium (EC) site in Punggol closed yesterday with no bids received.
Property consultants attributed the dearth of interest in the entry-level condo site to still-high construction costs and a lacklustre property market which is expected to trend lower.
This is the fourth EC site the Government has put on the market this year and the only one it kept for confirmed sale for the rest of this year.
Due to the poorer outlook for Singapore's economy and property market, the Government recently transferred all remaining confirmed sites for sale - apart from the Punggol EC site - onto a 'reserve list' where sites are put up for sale only if there is interest.
The 242,159 sq ft Punggol site can accommodate a development of about 16 storeys housing about 600 units.
It is a 99-year leasehold site at the junction of Punggol Field and …
DistrictProjectNo. of roomsFloor area (sqft)Monthly Rent (S$)Remarks10Montana StudioStudio3,900Great view107 Draycott3+11,5006,000All with attached toilets15The Makena3+11,538Spectacular Sea View 15Cote D’Azur4+1Full Sea View16Bleu @ East Coast31,2064,000Nice balcony, Exclusive Note: 1. All prices are quoted in Singapore Dollars. 2. For more infomation please call(65) 9853-3323 or email firstname.lastname@example.org. Owners or Landlords wishing to have their homes listed with me are most welcome. 3. The above list is by no means the only homes I have, Expats or Tenants are welcome to call or email me with their requirements for me to match them to a beautiful home of their desire. Surf in to www.chanlawrence.com for more information.