Maysprings

The ground under it was tendered in 1994. Both ends of that are public; nobody puts them together.

The land under Maysprings

HDB put this parcel out to tender and names Maysprings as what was built on it. Everything below is from that tender: the dates, the winning price, and the 6 bids that came in.

  1. Tender launched25 Feb 1994
  2. Tender closed28 Apr 19946 bids received
  3. Awarded19 Aug 1994First Capital Corporation Ltd
  4. Winning tenderS$157,153,000HDB publishes no gross floor area for this site, so a rate per square foot cannot be worked out from what is published
Parcel
Bt Panjang S1 Petir Rd
Site area
25,000 sq m
Lease
99 yrs
Plot ratio
3
Gross floor area
Not published
Sold as
Condominium
Every bid — all 6, as HDB published them
Ranked by amount. The gap column is each bid measured against the winning one — subtraction, not a judgement about whether anyone bid well.
#TendererBidBehind the winner
1First Capital Corporation LtdS$157,153,000—
2CPL Complex Pte LtdS$142,455,409S$14,697,591 · 9.4%
3Far East Organization Centre Pte LtdS$139,429,000S$17,724,000 · 11.3%
4City Developments LtdS$138,000,000S$19,153,000 · 12.2%
5Wing Tai Land Pte Ltd/Wingem Investment Pte LtdS$100,190,000S$56,963,000 · 36.2%
6LKN Development Pte LtdS$80,800,000S$76,353,000 · 48.6%

What the land cost and what a unit sells for are not two ends of one sum. Between them sit construction over a multi-year build, financing, the development charge, marketing and agent commissions, GST, and the cost of holding unsold units. None of those is published for a named project, so this site does not estimate a developer’s cost or margin and no figure here should be read as one.

Source: HDB — Sites Sold by HDB · tender awarded 19 Aug 1994 · transcribed from HDB’s published tables on 2026-08-31 · prices are nominal and are not adjusted for inflation. HDB names the development on this row as “Maysprings”. This parcel, from tender to today · Every land sale

What has been filed there since

1994 · the groundS$157,153,000HDB publishes no gross floor area for this parcel, so no rate can be worked out
Today · the homes on it$1,065median of 135 filed transactions, 2021-09 to 2026-09

Year by year, every size at this address

Every size that sold, which is why it moves when the mix of sizes moves and not only when prices do — no single size band here has enough years to stand on its own yet. Counts in brackets; a year with fewer than 3 filed sales is kept and marked rather than dropped, because a reader can discount a thin year and cannot discount one that was silently removed.
YearMedian psfAgainst the year before
2021$924 (19)—
2022$984 (37)+6.5%
2023$1,068 (24)+8.5%
2024$1,167 (25)+9.3%
2025$1,175 (17)+0.7%
2026$1,200 (13)+2.1%

The two ends of this page are not two ends of one sum. Between the tender and the first unit sold sit construction over a multi-year build, financing, the development charge, marketing and agent commissions, GST, and the cost of holding unsold stock. None of those is published for a named project, so nothing here estimates a developer’s cost or margin and no figure on this page should be read as one. Why that is refused.

The rest of it