Analysts indicated the most recent reference point for Shunfu Ville was the state’s tender for a Toa Payoh site, for which the winning bid was 777.30 Singapore dollars per square foot per plot ratio. However it must be remembered that Shunfu Ville is a much larger site than the Toa Payoh site. Although the Toa Payoh site is a more central site than Shunfu Ville, Shunfu Ville can fairly be considered part of the desirable Thomson area The Terrace EC.
The Terrace EC
CapitaLand paid $869 Singapore, per square foot per plot ratio for the Sky Habitat site in Bishan in February 2011 and 853 Singapore dollars per square foot per plot ratio for the Sky Vue site, also in Bishan in November 2012. Urban Redevelopment Authority data published on the official website for The Terrace EC indicated 372 of a total 509 units at Sky Habitat were sold by the end of June this year. Sky Vue has smaller units and 511 of a total 694 units were sold by the end of June 2015.
The Terrace EC in Punggol
In a climate where there are fewer sales of government land such as The Terrace EC, Shunfu Ville will attract developers with plenty of money, who are eager to bank land. A market insider stated that although Shunfu Ville has many advantages in its situation, the pertinent question however, concerns the price that developers are ready to give for the site.