First EC land tender under new rules expected to draw healthy interest, slightly lower bids: Analysts

Other analysts had slightly wider projections, suggesting bids could start between S$600 and S$650, and up to S$700 psf ppr.

This is slightly lower than the past two tenders at Miltonia Close and Woodlands Drive, which had top bids of S$732 psf ppr and S$794 psf ppr, respectively.

Both those sites had three bids each. They were also bigger developments – Miltonia Close had a site area of 15,451 sqm, while Woodlands Drive had a site area of about 26,980 sqm.  

Ms Wong said some developers may not be keen on the Canberra Drive plot in view of its small development size.

Others, like ERA’s Mr Lim, said the lower capital exposure could attract small- to mid-sized developers seeking controlled risk entry into the EC market.

Without the Deferred Payment Scheme, and with first-timers making up a larger share of initial new launch buyers, future ECs may attract a more price-sensitive crowd, he added.

This should prompt developers to bid more cautiously, as higher land costs will make it harder to align EC prices with what buyers can realistically afford, he said. 

“We could also see a wider bidding gap emerge as developers gauge the market before new EC pricing benchmarks take shape.”

The tender will close at noon on Oct 1, 2026.