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Resilient Buyer Demand Supports March 2025 Developer Sales

In March 2025, developers sold 729 private residential units (excluding Executive Condominiums), reflecting a moderation from the 1,597 units moved in February. The lower sales volume can be attributed to fewer project launches and the March school holidays, which temporarily slowed buying momentum. Nonetheless, on a year-on-year basis, sales remained stable—up 1.5% from 718 units in March 2024. A key highlight of the month was the overwhelming success of Aurelle of Tampines, the year’s first EC launch. It sold 705 units at a median price of $1,769 psf, making it the top-selling project across all categories. Located in a mature estate with excellent connectivity and established amenities, Aurelle attracted strong interest from first-time buyers and young families. The project was fully sold out by April, highlighting pent-up demand for affordably priced ECs in well-connected neighbourhoods. In the private residential segment, Lentor Central Residences led the way, transacting 460 units at a median price of $2,213 psf. Its success underlines the growing appeal of the Lentor precinct within the Outside Central Region (OCR), driven by the area’s proximity to Lentor MRT, increasing launch activity, and integration with nearby amenities. The cumulative effect of several launches in this enclave is transforming Lentor into a vibrant residential node. Sales in the Core Central Region (CCR) rebounded in March, with 46 new units sold—up from 28 in February. This was primarily driven by the launch of Aurea, which moved 24 units at a median price of $2,924 psf. The project’s success demonstrates sustained demand for luxury homes in prime locations, even amid cautious market sentiment. One Marina Gardens also garnered positive investor interest, especially for its one- and two-bedroom units. Positioned as the inaugural development in the upcoming Marina South precinct, the project offers early movers a front-row seat to the district’s transformation into a dynamic waterfront community. Looking ahead, two additional plots in Marina South have been listed on the 1H2025 GLS Reserve List, indicating continued government commitment to shaping this precinct into a mixed-use lifestyle hub.

Singapore Property Market: A Safe Haven Amid Global Trade Turbulence

Singapore’s property market has consistently demonstrated resilience in the face of global economic upheavals. From the Asian Financial Crisis (AFC) in 1997–1998 to the recent COVID-19 pandemic, history shows that periods of volatility have repeatedly paved the way for market rebounds and opportunity. During the AFC, property prices corrected sharply amid a collapse in investor confidence. Yet, by 1999, prices stabilised, and buyer sentiment began recovering. Similarly, after the 2003 SARS outbreak, Singapore’s market rebounded swiftly, with new private home sales jumping 73.7% year-on-year by 2005. The 2008 Global Financial Crisis (GFC) triggered another slump, but a timely S$20.5 billion Resilience Package helped safeguard jobs and restore market confidence—leading to a remarkable 244.5% surge in new home sales by 2009. The COVID-19 pandemic initially raised fears of prolonged market weakness. However, targeted fiscal aid, accommodative monetary policy, and the rapid reopening of borders supported a surprisingly swift recovery. New launches achieved healthy take-up rates, and prices rose despite initial restrictions. Today, the challenge stems from escalating global trade tensions. Recent U.S. tariff hikes, including a cumulative 125% on Chinese imports and new levies on ASEAN exports, have prompted global manufacturers to rethink their supply chains. Although a temporary 90-day pause on steeper tariffs offers short-term relief, the broader uncertainty has already accelerated supply chain diversification. This realignment could benefit Singapore, which remains a neutral, well-connected logistics and financial hub. Despite the turbulence, Singapore’s fundamentals remain strong. Throughout multiple crises, a common thread has emerged: Singapore’s policy-driven stability. Timely interventions—such as the SARS Relief Package and the COVID-19 Support Package—have consistently cushioned market shocks. This is further reinforced by strict housing regulations, transparent frameworks, and a commitment to long-term affordability. In short, while the global outlook remains volatile, Singapore continues to stand out as a beacon of opportunity, where long-term fundamentals shine through short-term storms.

Kingsford Group Submits Top Bid for Lentor Gardens GLS Site

Kingsford Huray Development Pte Ltd submitted the winning bid of $429.2 million for the Lentor Gardens Government Land Sales (GLS) site, translating to $920 psf per plot ratio (psf ppr). This narrowly edged out the second bid of $905 psf ppr by just 1.7%, reflecting a competitive stance and long-term confidence in the site’s potential. Despite attracting only two bids, the results underscore that interest in Lentor remains firm, with developers taking a more measured approach amid prevailing market conditions. The Lentor precinct has seen rapid transformation in recent years, progressively evolving into a vibrant residential hub. Developments such as Lentor Mansion, Lentoria, Lentor Hills Residences, and Hillock Green have collectively shaped a new housing cluster. The strong performance of Lentor Central Residences, with a 93% sales rate on launch weekend, further reinforces confidence that sensibly priced and well-positioned projects can still achieve good take-up. One of Lentor’s key appeals lies in its suburban tranquillity paired with urban convenience. This is enhanced by the improving connectivity via Lentor MRT (Thomson-East Coast Line), proximity to schools, and access to nature. As infrastructure and amenities grow, the area is becoming a go-to option for families seeking modern housing in the northern region of Singapore. Despite limited participation, the Lentor Gardens tender result is a signal that developers are still monitoring the precinct closely. Lentor’s steady evolution and growing popularity suggest that this area will remain on the radar of both homebuyers and investors. As the estate matures, Lentor’s transformation into a modern residential enclave underscores its potential to deliver quality homes that blend comfort, convenience, and connectivity.