All eyes on Normanton Park collective sale as en bloc market heats up

SINGAPORE (Aug 23): The collective sale of privatised housing estate Normanton Park with a reserve price of $800 million will be closely watched, says CIMB Research.

“The en bloc market is likely to remain buoyant as developers continue to restock their low land inventory,” says CIMB analyst Lock Mun Yee in a Tuesday report. “More importantly, replacement costs have risen as land bids appear to be reflecting some expectation of forward growth in end-product pricing.”

Originally built in 1977 as a government housing project for military personnel and their families, Normanton Park will be the eleventh site put up on the en bloc market this year.

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