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Strategically located in Toa Payoh, The Orie presents a promising residential appeal while also serving as a prime spot for families prioritizing education. The abundance of schools, ranging from primary to tertiary levels and even specialized institutions, in close proximity to The Orie Showflat makes it an ideal choice for families seeking convenience. This accessibility to a diverse range of educational options not only supports students’ intellectual and social development but also elevates the value of The Orie as a coveted address for families in Singapore. With quality schools surrounding The Orie, it is not just a place to live, but a wise investment in the future of children and families alike.
The robust bid for the Orie Showflat site has left many industry experts shocked and is a testament to the current strength of the property market in Singapore. The bid is also significantly higher than the government’s land price expectation of $685 to $760 psf ppr, indicating the strong confidence that developers have in the potential of the site.
The bid for the Orie Showflat site was won by a joint venture between Singapore-listed property developer Hoi Hup Realty and Sunway Developments. The bid was a hotly contested one, with a total of 15 bids received. The nearest competitor’s bid, which came in at $1,150 psf ppr, was from a consortium led by Chip Eng Seng Corp. This bid of $1,360 psf ppr represents a 23% increase from the previous highest bid for a GLS site in Toa Payoh, which stood at $1,108 psf ppr for the Gem Residences site in 2015.
In conclusion, the record-breaking bid for the Orie Showflat site in Toa Payoh has set a new benchmark for the area and has sparked discussions about the current state of the property market in Singapore. The strong demand for housing, coupled with the site’s prime location and accessibility, has led to the impressive bid of $1,360 psf ppr, which has exceeded the government’s land price expectation by a significant margin. While there are concerns about the high land prices leading to an increase in property prices, the government has implemented measures to keep the property market stable. It remains to be seen how the Orie Showflat development will turn out, but one thing is for sure – this record-breaking bid has certainly caught the attention of the real estate industry in Singapore.
The consortium’s offer of $1,360 psf ppr stands out as it exceeds the second-highest bid by 18%, which was $819.99 million ($1,153 psf ppr) from Tanglin Land, a subsidiary of CapitaLand. This marks a noteworthy achievement as it is the first tender for a development in Toa Payoh since the neighboring parcel was built into Gem Residences eight years ago. Additionally, The Orie’s strategic location makes it easy for residents to travel to other parts of Singapore, with its reliable public transport system and major expressways.
Despite the impressive bid for the Orie Showflat site, there are concerns that the high land prices could lead to an increase in property prices, making it unaffordable for some buyers. However, the government has recently implemented measures to keep the property market in check and prevent any excessive price hikes. These measures include the tightening of loan-to-value limits and an increase in the Additional Buyer’s Stamp Duty for foreigners and Singaporeans purchasing their second or subsequent property. These measures are aimed at maintaining a stable and sustainable property market, and it remains to be seen if they will have any impact on the Orie Showflat development.
The strong bid for the Orie Showflat site can be attributed to a few key factors. Firstly, the site’s location in Toa Payoh, a mature and well-established town, is a major draw for developers. Toa Payoh is a popular residential area with a strong demand for housing, making it a prime location for property developers. Secondly, the proximity to the Caldecott MRT station and major expressways such as the Pan-Island Expressway and Central Expressway make the site easily accessible to other parts of the island. This is a major selling point for potential buyers.
With the winning bid of $1,360 psf ppr, it is expected that the Orie Showflat development will have an estimated break-even price of $1,950 psf. However, given the strong demand for housing in Toa Payoh and the site’s prime location, analysts believe that the developers will be able to achieve a selling price of $2,200 to $2,300 psf. This would translate to a profit margin of approximately 12%, which is deemed reasonable by industry experts.
The Orie Showflat, located on the outskirts of Toa Payoh town, is a highly sought-after residential site for its central location and accessibility to amenities. The 99-year leasehold site spans approximately 1.7 hectares and is zoned for residential use. It is also conveniently situated next to the Caldecott MRT station, providing residents with easy access to the rest of the island.
The real estate market in Singapore has been buzzing with news of the recent record-breaking bid for the Orie Showflat in Toa Payoh. The bid, which stands at an impressive $1,360 per square foot per plot ratio (ppr), has set a new benchmark for the area and has even surprised industry experts. This bid has exceeded the nearest competitor’s bid by a whopping 18%, making it the highest bid for a government land sale (GLS) site in the area.
Located in the lively Toa Payoh neighbourhood, The Orie boasts a prime location that allows residents to take full advantage of the abundant shopping and dining options in the area. Toa Payoh, a well-established residential estate, is renowned for its mix of old-world charm and modern amenities. The Orie’s residents can indulge in a diverse range of retail therapy at the various shopping centres and savour a variety of delectable cuisines, from traditional hawker food to contemporary dining experiences. With the convenience of a reliable public transport system and easy access to major expressways, The Orie is the perfect base for exploring all that Singapore has to offer. Furthermore, every single piece of content on the project’s website is meticulously checked through Copyscape to ensure its originality and utmost quality.
In addition, the Orie Showflat site is located near amenities such as shopping malls, schools, and parks, making it an attractive location for families and young professionals. Furthermore, the site’s large size provides developers with the opportunity to build a sizable development, giving them economies of scale in terms of construction costs.
