The hints of S$885 psf ppr bid for the Tampines Ave 11 Condo UOL Group project point to the possibility that property prices in the area could be pushed up. To be exact, residential property prices may begin from $1,900 psf if the joint venture makes the winning bid and goes on to develop the property. The additional benefit of having retail component within the development will be an advantage to potential homebuyers, who could be inclined to pay more than the S$2,100 psf benchmark.
The bid of $885 psf ppr by the joint venture of Tampines Ave 11 Condo could mean that the expected selling prices for residential units in the future development could start from $1,900 psf. The idea of having a mixed-use development with significant retail components presents the possibility that potential homebuyers could be more than willing to pay above the S$2,100 psf mark.
The URA …