A government land site in the new Holland Plain precinct has sparked attention - not for how many bids it received, but for how far the top offer went.

Sim Lian Land and Sim Lian Development submitted the highest bid at nearly S$368 million, or about S$1,432 psf ppr, a striking 22% above the next closest offer. Property consultants are calling it a bold, bullish move in a market still finding its footing.

What drove Sim Lian to bid so aggressively? Does this reflect growing confidence among developers  or rising pressure from limited land supply? What could this mean for future home prices and the direction of the private residential market?

On Wealth Tracker, Hongbin Jeong speaks to Nicholas Mak, Chief Research Officer, MOGUL SG, to find out more.