Amara Holding's 10 Evelyn is in Newton, but the showflat is in the group's 100AM mall in Tanjong Pagar.
Ong Choon Fah, chief executive of Edmund Tie & Company, said:"Smaller sites don't have the space and because of qualifying certificate rules and additional buyer's stamp duty, developers want to build as fast as possible, so its challenging to have something on-site." That includes Aurum Land for Nyon at Amber Road, and The Hyde in Balmoral Road. The company told BT:"Ideally, the respective showflat locations should be within the immediate vicinity of the actual development."
Building showflats on-site allows the developer to save on rental costs since they already own the land. It can cost S$10,000 to S$20,000 a month to rent city-fringe state land of 7,000 sq ft to 8,000 sq ft for a mid-sized showflat, said Alice Tan, head of residential project marketing for Knight Frank. Building a showflat carcass generally ranges from S$2 to S$10 million, she estimates.
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