A Singapore government land tender on Thursday drew a massive 22 bids, the Urban Redevelopment Authority said, signalling developers remained keen to acquire new sites despite tough new measures to cool the city-state's housing market.
The top bid works out to $5,494 per square metre of built-up space, higher than the winning bid of $4,584 per square metre of gross floor area for a nearby site in a tender last month that attracted 12 bids.
The top bid works out to $5,494 per square metre of built-up space, higher than the winning bid of $4,584 per square metre of gross floor area for a nearby site in a tender last month that attracted 12 bids.
Shares of Singapore developers fell sharply on Thursday after the government took new steps to cool property prices with the toughest measures aimed at foreign buyers who have become increasingly visible in the residential sector.
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