Northvale

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

The land under Northvale

HDB put this parcel out to tender and names Northvale as what was built on it. Everything below is from that tender: the dates, the winning price, and the 8 bids that came in.

  1. Tender launched26 Aug 1994
  2. Tender closed27 Oct 19948 bids received
  3. Awarded9 Dec 1994Pidemco Land Ltd
  4. Winning tenderS$261,300,000HDB publishes no gross floor area for this site, so a rate per square foot cannot be worked out from what is published
Parcel
Choa Chu Kang S4 Choa Chu Kang Dr/Choa Chu Kang Loop
Site area
37,265 sq m
Lease
99 yrs
Plot ratio
2.5
Gross floor area
Not published
Sold as
Condominium
Every bid — all 8, 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
1Pidemco Land LtdS$261,300,000—
2DBS Realty (Pte) Ltd & Far East Organization Centre Pte LtdS$232,888,889S$28,411,111 · 10.9%
3Hong Leong Holdings Ltd/Park Court Pte LtdS$218,000,000S$43,300,000 · 16.6%
4City Development LtdS$203,000,000S$58,300,000 · 22.3%
5Winswift Investment Pte Ltd/Grandwin Investment Pte LtdS$196,310,000S$64,990,000 · 24.9%
6Singapore United Estates Pte LtdS$190,600,000S$70,700,000 · 27.1%
7First Capital Corporation LtdS$179,700,000S$81,600,000 · 31.2%
8Allgreen Properties Ltd/Hoe Seng Co (Pte) LtdS$142,800,000S$118,500,000 · 45.4%

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 9 Dec 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 “Northvale”. This parcel, from tender to today · Every land sale

What has been filed there since

1994 · the groundS$261,300,000HDB publishes no gross floor area for this parcel, so no rate can be worked out
Today · the homes on it$1,015median of 107 filed transactions, 2021-09 to 2026-09

Year by year, for a median-sized unit

100–110 sqm band. 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$767 (2)—
2022$735 (2)-4.2%
2023$874 (4)+18.9%
2024$1,058 (3)+21.1%
2025$1,002 (4)-5.3%
2026$1,131 (1)+12.9%

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