BUY AND SELL A SINGAPORE PROPERTY FROM THE COMFORT OF YOUR HOUSE

Singapore government has launched three highly anticipated residential land parcels for sale, setting the stage for major developments in the Bukit Timah, Jurong Lake, and Woodlands regions. Among them is the first residential plot in the rejuvenation of Turf City along Dunearn Road, alongside a prime site in Jurong's Lakeside area and an executive condominium (EC) parcel in Woodlands. These launches, part of the first-half 2025 Government Land Sales (GLS) programme, are expected to draw keen interest from developers, though some may bid more cautiously due to global economic uncertainty stemming from recent U.S. tariffs trade war by President Donald Trump. Key Land Parcels Unveiled The 13,492 sqm Dunearn Road site is poised to yield 380 private homes in the heart of the prestigious Bukit Timah district. The Lakeside Drive parcel, measuring 13,485 sqm, could accommodate up to 575 units, while the 25,207 sqm Woodlands Drive 17 site is designated for an EC project with approximately 420 units. Spotlight on Jurong Lakeside Among the trio, JT Chia, Managing Director at Propertyforsale, predicts the Lakeside Drive site will receive the most attention. He highlighted the plot's strategic location near the Lakeside MRT station and its integrated commercial component, which will provide about 1,000 sqm of retail space in an underserved area. “There is a lack of supermarket and F&B so this new residential launch with commercial could help meet pent-up demand,” said Chia, citing that only 1,114 new private homes have been introduced in the Jurong area over the past two years. With projects like The Lakegarden Residences, J’den and Sora, around 350 units remain unsold. The Lakeside plot could offer a timely supply boost and support the continued growth of the Jurong Lake District. We anticipate up to 8 bids for the plot, with prices ranging from S$1,000 to S$1,200 per square foot per plot ratio (psf ppr).  Revitalising Bukit Timah’s Turf City The Dunearn Road site marks the first step in the long-term transformation of Bukit Timah’s Turf City. With its prime location and proximity to top schools, the last project launched nearby was Fourth Avenue Residences in 2017, which achieved a median price of S$2,406 psf. Top bids for the Dunearn plot are projected to be S$1,300 psf ppr since the 60% Additional Buyer’s Stamp Duty (ABSD) on foreign investment will limit potential buyers to Singaporeans.  Moderate Expectations for Woodlands EC While ECs continue to see strong demand, the Woodlands Drive 17 parcel may attract more tempered bidding. This is due in part to its shared tender closing date with another EC site at Senja Close. Still, the Woodlands EC site has potential due to future developments in the north, such as the Johor Bahru-Singapore Rapid Transit System. Average land costs for ECs reached S$733 psf ppr in 2024, a significant jump from the S$566 psf ppr seen in 2015 for Northwave, the last EC in Woodlands. Tender Closing Dates Lakeside Drive: June 3, 2025 Dunearn Road: June 26, 2025 Woodlands Drive 17: August 5, 2025 With strategic locations, varied housing options, and proximity to key infrastructure, these land parcels are set to shape the next wave of residential development in Singapore’s evolving urban landscape.

Hillcrest Arcadia, a 99-year leasehold condominium in Bukit Timah, is up for collective sale with a guide price of S$920 million. This en bloc presents a rare redevelopment opportunity for a sprawling 4-hectare site in Singapore’s prime District 11. Prime Location and Site Details The expansive 442,162 square-foot site, located along Arcadia Road near Watten Estate, currently houses 272 residential units and one retail unit. Zoned for residential use with a gross plot ratio of 1.6, the site could accommodate up to 773 new homes, according to marketing estate agency Huttons. Importantly, no land betterment charge is required due to its existing approved use and intensity. Pricing and Financial Considerations At the guide price of S$920 million, Hillcrest Arcadia is being marketed at approximately S$1,519 per square foot per plot ratio (psf ppr). This calculation includes a 10 per cent bonus gross floor area and a premium of about S$262 million to refresh the lease to a new 99-year term. The current lease, dating back to 1975, has about 50 years remaining. If the collective sale succeeds, owners stand to receive payouts ranging from S$945,000 to over S$5.7 million. Notably, recent URA caveat transactions at the development include a 699.7 sq ft unit sold for S$850,000 (S$1,215 psf) in 2024. Market Sentiment and Timing This is Hillcrest Arcadia’s second attempt at a collective sale, following an unsuccessful bid in 2018 when the owners failed to secure the required 80 per cent consensus.  Competitive Landscape and Recent Sale Transactions The Bukit Timah area remains a stronghold for luxury residential developments. In 2021, UOL Group acquired the nearby Watten Estate Condominium, a site about half the size of Hillcrest Arcadia, for S$550.8 million. The resulting 180-unit luxury project, Watten House, launched in November 2023 and saw strong demand, selling 102 units at an average price of S$3,230 psf. Tender Details The collective sale tender for Hillcrest Arcadia will officially launch on April 3, 2025, and will close on May 22, 2025. Given its prime location, redevelopment potential, and favorable market conditions, the site is expected to attract keen interest from major developers looking to make their mark in Singapore’s luxury residential segment. For investors and developers eyeing Bukit Timah’s prized real estate, this sale represents a rare chance to secure a substantial residential plot in one of Singapore’s most coveted districts.

Kingsford Group has emerged as the highest bidder for a prime private housing site at Lentor Gardens, submitting a bid of S$429.23 million, which translates to S$920 per square foot per plot ratio (psf ppr). The only competing bid came from a consortium comprising Intrepid Investments, TID Residential, and CSC Land Group (Singapore), which placed a slightly lower bid of S$422.22 million (S$905 psf ppr). Development Potential of Lentor Gardens Site The 99-year leasehold plot, which spans 20,639.4 square metres (sq m), has the potential to yield around 500 private residential units. It offers a maximum gross floor area of 466,540 square feet (sq ft), with a mandatory 6,458 sq ft allocated for an early childhood development centre. This site is the seventh land parcel released by the Urban Redevelopment Authority (URA) in the emerging Lentor Hills estate, a new residential enclave designed to be sustainable and pedestrian-friendly, surrounded by lush greenery. Lentor’s Growing Appeal The Lentor area has been gaining popularity among homebuyers due to its proximity to the Lentor MRT station on the Thomson-East Coast Line, as well as the increasing availability of residential, retail, and recreational options. The estate is also well-positioned near reputable schools, including: Presbyterian High School Anderson Primary School CHIJ St Nicholas Girls’ School Kingsford Group’s Vision for Lentor A spokesperson for Kingsford Group expressed excitement about the opportunity to develop a 500-unit residential project in the up-and-coming Lentor neighbourhood. “If awarded the site, this project would be our seventh residential development in Singapore,” the spokesperson stated, highlighting the group's growing presence in the local property market. Lentor Land Sales: A Competitive Landscape The Lentor Gardens site marks the seventh land parcel sold in the Lentor precinct. Out of the six sites transacted so far, five were acquired by Guocoland, Hong Leong Holdings, and TID, either individually or as part of a consortium. What are some new launch projects at Lentor? Lentor Modern Lentor Hills Residence Lentor Mansion Lentor Central Residences  Lentoria Hillock Green The latest tender from Kingsford Group reflects continued developer confidence in Lentor’s transformation into a vibrant residential hub, noted Mr Chia JT, Managing Director of Propertyforsale.com.sg.

Singapore’s private home market saw a remarkable surge in February, reaching a 13-year high in sales due to strong pent-up demand and the successful launch of two suburban condominium projects. According to data from the Urban Redevelopment Authority (URA) released on March 17, developers sold 1,575 new private homes last month, excluding executive condominiums (ECs). Year-on-year, the number of new home sales in February skyrocketed more than tenfold compared to the 153 units sold in the same month of 2024. Additionally, sales increased by 45.4% from January’s figure of 1,083 units. This also represents the strongest monthly developer sales since November 2024, when 2,557 units were sold, according to property statistics. Among the 1,575 units sold last month, 25 were located in the Core Central Region (CCR), 98 in the Rest of Central Region (RCR), and 1,452 in the Outside Central Region (OCR). Suburban Condo Launches Drive Market Boom Chia JT, Managing Director at Propertyforsale Pte Ltd, highlighted that February’s sales surge was largely driven by the two major launches—Parktown Residence in Tampines and Elta in Clementi. Parktown Residence, described as an “integrated mega-project,” saw exceptional sales performance, moving 1,041 units, or 87% of its total offerings, at a median price of S$2,363 per square foot (psf). Chia attributed its appeal to its integrated development status, which offers direct access to amenities such as a retail mall, the upcoming Tampines North MRT station on the Thomson-East Coast Line, and a bus interchange. Elta, on the other hand, drew buyers due to its strategic location near schools and the Clementi town centre. February’s strong performance also marked the best OCR transaction volume in nearly a decade, surpassing the 1,523 units sold in July 2015. Market Outlook for 2025 Although the private property market started 2025 on a strong note,economic uncertainties arising from global geopolitical tensions and Trump 2.0 trade war, could pose risks in the coming months. March sales to remain solid, though slightly lower than February’s peak. Notably, Lentor Central Residences in Upper Thomson had sold over 90% of its units this month. Other property launches in March include Aurelle @ Tampines and Aurea on Beach Road. Looking ahead to the second quarter, the new launch projects Arina East Residences, Marina View Residences, Artisan 8, and One Marina Gardens would further invigorate the market by offering new opportunities for buyers and investors. Chia remains optimistic about the private home market in 2025, citing two indicative interest rates cuts and improved buying sentiment due to fear of missing out (FOMO).  Private home prices in 2024 rose by 3.9%, a moderation from the 6.8% growth in 2023 and 8.6% increase in 2022.

The government land sale (GLS) tender for a prime site along Bayshore Road in Singapore closed on March 18, 2025, drawing significant interest from property developers and setting a record land price for a 99-year leasehold site in the suburbs. The plot, located adjacent to Bayshore MRT station and capable of yielding approximately 515 private homes, attracted eight bids, demonstrating developers' confidence in the site's potential and the recovering sentiment in the private housing market. Fierce Bidding and Record Land Price The highest bid of S$658.9 million came from a consortium comprising SingHaiyi Group and Haiyi Holdings, part of the Gordon and Celine Tang business empire. This translates to S$1,388 per square foot per plot ratio (psf ppr), exceeding analysts' expectations of S$1,000 to S$1,400 psf ppr. The competition was intense, with the second-highest bid by Sing Holdings coming in at S$1,377 psf ppr, just 0.8% lower. Other notable bids included City Developments at S$1,308 psf ppr, while the lowest bid of S$1,022 psf ppr came from a partnership between Sim Lian Land and Sim Lian Development. This level of participation is the highest seen in a GLS tender for a private residential site since January 2022, when a plot in Jalan Tembusu also garnered eight bids.  Benchmark Land Price for Suburban Sites At S$1,388 psf ppr, the Bayshore Road site now holds the record for the highest land price achieved for a suburban site at a state tender, surpassing the previous benchmark of S$1,250 psf ppr set in November 2023 for a site in Clementi Avenue 1. The bid even exceeded recent land rates for residential plots in more central regions. For instance, Zion Road Parcels A and B in the Rest of Central Region (RCR) fetched S$1,202 psf ppr and S$1,304 psf ppr, respectively, while Core Central Region (CCR) plots in Holland Drive and River Valley Green (Parcel A) were awarded at S$1,285 psf ppr and S$1,325 psf ppr, respectively. This trend indicates a diminishing price gap between different market segments, with developers placing greater emphasis on site attributes rather than strict regional classifications. Strong Location and Demand Drivers The Bayshore Road site boasts several compelling attributes that contributed to the strong bidding interest: Excellent Connectivity: Located adjacent to Bayshore MRT station on the Thomson-East Coast Line, providing seamless transport links. The site is also near the East Coast Parkway, enhancing accessibility for private vehicle owners. Proximity to Amenities: The site is within 1 km of Temasek Primary School, a sought-after educational institution. Additionally, a future mixed-use development above Bedok South MRT station, just one stop away, will enhance retail and lifestyle offerings. Scenic Views: Certain units in the future development are expected to enjoy waterfront views of East Coast Park, adding to the site’s appeal. Pent-Up Demand: The Bayshore area has seen limited new private housing launches since the 1990s, with Costa Del Sol being the last major project in 2000. This suggests strong demand from HDB upgraders in nearby estates such as Marine Parade and Bedok. The most recent comparable GLS transaction in the area was the 2016 sale of the Siglap Road site, now home to Seaside Residences. That site was awarded at S$858 psf ppr, with its 841 units launching in 2017 and selling out by 2021. Implications for the Market and Future Launch Pricing Property analyst at PropertyForSale predicts that with a land rate of S$1,388 psf ppr, launch prices for the new development could start from S$2,500 psf. The Bayshore precinct is set to become a vibrant waterfront neighborhood, with plans for 10,000 new homes—3,000 private residences and 7,000 HDB flats. The site tendered by the Urban Redevelopment Authority (URA) sits at the western edge of the precinct, near the first two Build-To-Order (BTO) projects, Bayshore Vista and Bayshore Palms, launched in October 2024. Conclusion The overwhelming interest in the Bayshore Road GLS site underscores the site's attractiveness and the broader optimism among developers about Singapore’s private housing market. As the Bayshore precinct develops into a prime residential enclave, future homebuyers can expect high-quality housing options with excellent connectivity and amenities. The record land bid also signals developers’ willingness to invest in well-located sites with strong demand potential, setting the stage for an exciting new chapter in Singapore’s property market.