SINGAPORE PRESS-Developers keep residential land bids in check-Business Times

Caution about the local residential market has kept developers' bids for state land tenders this year in check, marking a reversal from the bidding fever more than a year ago that stoked fears of land costs outpacing fundamentals, the Business Times reported.

Winning bids for residential sites sold under the Government Land Sales programme this year have come down by a broad range of 3-24 per cent in prices relative to comparable sites sold in 2013 or 2014.

NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Anshuman Daga)

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