The reason that the 9 year leasehold property in Sengkang was launched by Sing Development and Wee Hur Development. The project was launched on the government land sales programme which periodically release these lands for tender by developers who are looking to the private homes on the piece of land. Parc Botannia is located right next to Thanggam LRT Station as well as many transportation options available in the Sengkang and the North East area of Punggol MRT.
Parc Botannia Mass Market Condo to Pick Up
With the recent pickup of mass-market private condo prices, many buyers are optimistic about Parc Botannia now, which is also a mass market project located in the Sengkang area. Might it have started to pick up since the last financial crisis in 2009. Prices of landed homes, which is a indicator of overall real estate performance in Singapore, has also started to pick up in 2nd quarter 2009.
Most real estate consultants of the EU prices of landed homes in Singapore as an indication of overall real as the performance in Singapore as this indicator shows that prices has increased for land scarce Singapore.
Parc Botannia Wee Hur Development
Based on the beats received for the plot of land, Desmond Sim, is CBRE research head for Singapore and south-east Asia, note that the price which the developer has bid for the land is slightly higher than the next-door high Park residences, which was launched by CEL Development last year. Parc Botannia is a mass market project and many developers are encouraged by the response of high Park residences condo, which was launched last year and received great response from buyers who are looking for mass market condominiums located around in the Sengkang and Punggol area. Punggol area is one of the highly sought-after developments as buyers who are looking for mass-market condominiums are looking for developments near to Punggol MRT Station. Parc Botannia condo is located near to Punggol MRT station as well as the elite are more where there are many amenities located in the development.
Property Market to Pick Up in Singapore
The reason land sales made by developers also note that buyers are returning to the market and developers are encouraged by the response of mass-market condominiums in the north-east area. There are many developers who submitted that for Parc Botannia which include China construction development. Wee Hur Development and Sing Development jointly submitted for the plot of land and won the tender with a price of $287,100,000.
There were a total of 14 bids submitted for the plot of land. Based on the bid price which the developer has submitted, the estimated breakeven price for Parc Botannia to range from 980 psf to 1030 psf. Also the land size and the built-up area for Parc Botannia means that there will be around 735 units to be built on the plot of land.