A plum plot that goes on sale in Redhill next year could be a litmus test of where home prices are headed in the upmarket neighbourhood, said analysts yesterday. While they agree that the Prince Charles Crescent site will send a crucial signal to the market, they are split on what that signal might be. Some point to land-hungry developers who will drive up the price while others counter by citing a softening property market. The 2.5ha site near Redhill MRT is slated to go on sale in Feb under the GLS programme for the first half of next year, MND said yesterday. It was originally put on the reserve list in May this year. The Prince Charles Crescent plot sits next to a 2.37ha land parcel that drew a top bid of $960 psf ppr in Sept last year from a Wing Tai-led consortium. Apart from the Prince Charles Crescent site, consultants said a mixed-use plot at the junction of Upper Serangoon and Meyappa Chettiar Road would also be keenly watched.... Continue Reading