Although the market outlook for ECs are not very good considering that there are still many unsold EC units in the West side of Singapore such as Sol Acres EC and Westwood Residences EC, the latest tender of Choa Chu Kang site proved to be counter-intuitive as the government receive a huge number of bids, In particular, there were a total of 11 bids lodged for the plum side next to Brickland Road even though experts only expect 3 to 7 bids.
The plot of land is slated to be a Executive Condominium that is a hybrid of private and public housing by private developers. The recent number of bids seems to surprise analyst given the weak sentiment in the current EC market where there are many units that appear to be unsold.
Choa Chu Kang Ave 5 Tender
Real Estate analyst attribute that this surprise increase in the number …