The Terrace

The ground under it was tendered in 2013. Both ends of that are public; nobody puts them together.

The land under The Terrace

HDB put this parcel out to tender and names The Terrace as what was built on it. Everything below is from that tender: the dates, the winning price, and the number of bids received.

  1. Tender launched17 Jun 2013
  2. Tender closed30 Jul 20136 bids received
  3. Awarded2 Aug 2013Peak Square Pte. Ltd.
  4. Winning tenderS$312,800,000S$3,823 per sq m of gross floor area · S$355 per sq ft
Parcel
Punggol E16 Punggol Drive / Edgedale Plains
Site area
24,065 sq m
Lease
99 yrs
Plot ratio
3.4
Gross floor area
81,820 sq m
Sold as
EC

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 2 Aug 2013 · 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 “The Terrace”. This parcel, from tender to today · Every land sale

What has been filed there since

2013 · the groundS$312,800,000S$355 per sq ft of gross floor area
Today · the homes on it$1,299median of 299 filed transactions, 2021-09 to 2026-09

Those two are not the same square foot. Gross floor area includes what nobody buys — the corridors, the car park, the plant rooms — so the land rate is spread across more area than a unit is sold by. The ratio is arithmetic on two published figures and is not a return, a profit, or an appreciation.

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
2022$1,189 (68)—
2023$1,289 (28)+8.4%
2024$1,356 (31)+5.2%
2025$1,486 (24)+9.6%
2026$1,524 (12)+2.6%

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