Jalan Tembusu GLS Tender - Land Cost Coming Down = Property Prices Coming Down Too?

Video description from @alanweeproperty

Jalan Tembusu GLS Tender - Land Cost Coming Down = Property Prices Coming Down Too?

In today's video, I am going to talk about the latest government land sales results for the Jalan Tembusu Government Land Sales tender. The highest bid came from Sim Lian Group at $828.8 million or $1,069psfppr. This is 22% lower than the $1,302 psfppr paid by CDL and MCL Land for the Tembusu Grand site. Does this mean land cost is coming down? Will lower land cost translate to lower selling prices in the future?

Alan Wee
CEA Reg No. R024730A
https://wa.me/+6592973150
www.AlanWeeProperty.com (Resale)
www.AlanWee.com (New Homes)
youtube.com/@alanweeproperty
FB: www.facebook.com/AlanWeeProperty
I am a licensed housing agent with ERA Realty Network Pte Ltd.

References:
https://www.edgeprop.sg/property-news/sim-lian-group-tops-bid-jalan-tembusu-gls-site-just-01
https://www.ura.gov.sg/Corporate/Guidelines/Circulars/dc22-09#:~:text=In%20consultation%20with%20industry%20representatives,productivity%20for%20the%20built%20environment
https://www.ura.gov.sg/Corporate/Media-Room/Media-Releases/pr23-27