Out of the three private housing sites that were up for rent, CDL got two sites with 99-year leasehold and one of these is Whistler Grand located at West Coast Vale. The property team had set the best bids which include a S$472.4M bid for the parcel of land in West Coast Vale and S$212.2M to the property in Exotic Road, near the Dhoby Ghaut MRT Station. The 3rd website that's located along the Chong Kuo Road saw the partnership between OKP Land and Lian Shortly Holdings placing the maximum bid of S$43.95 M.
If CDL will be given these 2 websites, they are exploring the option of constructing three residential towers with 8-10 stories with 200 apartments as well as a car park in the cellar for your property located 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 was selective in areas where they place the 2 sites where they put the best bid have good potential. Together with the residential market in Singapore beginning to recover gradually, the group's main focus is to hunt for the right opportunities that will increase CDL's land bank locally.
Whenever you're likely to get a house sometimes you may get into bidding wars with other people who want the exact same home as you. If individuals have already fallen in love with the home they may push their offer cost when they find out others desire the same home. Among the things that you could do is to learn the prices of the other houses in the area. This way you have a notion about what things are going for and if it is under priced you can figure out in the event that you would like to bidding or look elsewhere.
For West Coast Vale, CDL had suggested towers with 36 tales. However, Singapore's Urban Redevelopment Authority has specified that the maximum residential units for the house is 730.
Be certain you receive all of the final documents beforehand. Going into closing blind can lead to a lengthy meeting as well as oversights. Read the documents thoroughly beforehand and ask any questions before closing. This will result in a much smoother trade on the day you go into sign.
Tricia Song who's the head of Colliers International in Singapore noted that CDL's bid for the plot in West Coast Vale Whistler Grand has been 35 percent more compared to that which was paid for the website of the Twin View Project. Regardless of the abundant supply, Song said that what might have increased the confidence of programmers within this place is also the nearby Parc Riviera which has 752 units and 97 percent of it was sold by December 2017. Parc Riviera had an average selling price of approximately S$1,200 per square foot within only 13 weeks after it had been officially established.
Property Consultants have stated that even with multiple tenders simultaneously closing in for Whistler Grand, this has little effect in regards to bidding prices. According to JLL's national director, the top bids on the 3 bids exceeded the expectations however they will not interfere with the availability of the collective sales-sites in the market.
