|Screenshot taken from ST|
|Original data found on-line|
Reserve price said to be about S$450m; it will cost another S$200m to top up the lease and intensify the plot ratio (Straits Times 15 Mar 2017)
This works out about $565 psfppr by my calculation based on the original site area (found on-line)
From Anonymous26 March, 2017
With the smaller site area my spreadsheet now looks like:
The smaller land area now pushes the psfppr to $588 based on the figures given.
The SC must have done a reasonable stab at a RLV to get this price.
The rule of thumb for most new developments is that the psf of the new development is around twice the psfppr paid for the site. So, the potential new condo will be priced at $1180 psf and above. In 5 years time, that is not an unreasonable assumption to make.