Based on the sale price of S$161.6 million of Amber Towers “and at the equivalent plot ratio of 3.55, the sale reflects a land rate of $1,118 psf ppr,” said Ms Suzie Mok, director of investment sales at Savills Singapore.
Note Amber Glades and Marine Point were recently sold to Far East Organisation and CapitaLand for $1,066 psf ppr and $1,056 psf ppr respectively, So despite all the govmin measures, and the supply coming onstream in the next few years, developers remain bullish.
And they don’t think Goh Meng Seng and friends will get a chance to implement their plans to destroy the property markry by selling HDB flats at cost of construction prices.
Thoughts of a Cynical Investor 
If one reduces all variables, undeniably price becomes simply a function of supply and demand. To stabilise or dampen (god forbids) price is hardly difficult if one controls the supply component … but of course, the intention has to be there ….