"Land parcel will not be sold if the highest bid is too much below its estimated market value. The estimated market value is done on the day the tender closes."-URA on site next to Tanjong Pagar MRTGovernment is just waiting for a sucker to pay top dollar for their so called 'estimated value'.
When site is sold at ridiculous price, the rentals will be high. An example is Sengkang's hawker centre cum market. Items are sold at higher price to cover the rents. End result is higher costs of living for those residents- for many of them no need to retire as per MM Lee's script.
Do you ask yourself how much of rental component are you paying when buying an item?