10 Feb 2025
River Valley Green (Parcel B) Draws Five Bidders
Property Insight

The River Valley Green (Parcel B) Government Land Sales (GLS) site, designated for residential with commercial at the first storey, attracted five bidders. This marks the highest level of participation for a site in the vicinity in recent times, underscoring developers' confidence in its potential.

GuocoLand, through GLL B Pte. Ltd., emerged as the top bidder with a $627.8 million bid, translating to $1,420 per square foot per plot ratio (psf ppr). This exceeded the second-highest offer by 8.9%, reinforcing market optimism for well-located plots. Other bidders included Sing Holdings Residential Pte. Ltd. ($1,303 psf ppr), Sing-Haiyi Garnet Pte. Ltd. ($1,280 psf ppr), Garden Estates (Pte.) Limited ($1,252 psf ppr), and Kingsford Huray Development Pte. Ltd. ($1,251 psf ppr).

The strong interest in this site contrasts with earlier tenders—River Valley Green (Parcel A) had only two bidders, Zion Road (Parcel B) also saw two bidders, while Zion Road (Parcel A) attracted a single bid. This underscores the strategic appeal of River Valley Green (Parcel B), which benefits from excellent connectivity and a desirable residential district near the Singapore River.

Market Context and Demand Trends

Private home sales in the Core Central Region (CCR) in 2024 moderated, with 378 units sold compared to 1,454 units in 2023. The slowdown was largely due to the limited number of new launches earlier in 2024. However, 2025 is expected to see a turnaround, driven by an increase in new project launches. Upcoming developments like Marina View Residences and Aurea are anticipated to reignite buyer interest and provide a diverse range of housing options.

Prime Location and Competitive Positioning

Situated within the River Valley Planning Area, the site is highly coveted due to its proximity to the Singapore River, Robertson Quay, and Great World MRT station on the Thomson-East Coast Line. This location provides seamless access to the Central Business District (CBD), Marina Bay, Orchard Road, and key expressways.

The site’s prime positioning makes it attractive to local and international buyers, particularly with lifestyle and recreational amenities such as Great World City and Robertson Quay's riverside dining and nightlife. Additionally, River Valley Primary School enhances the site’s family appeal.

Price Projections and Market Resilience

The non-landed price index in the CCR saw a 4.5% increase in 2024, up from 1.9% in 2023. 4Q2024 recorded a 2.6% increase, rebounding from a -1.1% dip in 3Q2024. The luxury segment remained resilient, with marginal growth in high-value transactions ($10 million and above), reinforcing demand for prime district properties.

Click here for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg  

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16 Jun 2025
May 2025 Sales Up Nearly 40% from a Year Ago

Developers sold 312 private residential units (excluding ECs) in May 2025, marking a measured pullback from April’s 663 units. This moderation was widely anticipated, as developers tactically held back major launches amidst external developments such as the Liberation Day tariff announcements and Singapore’s General Election period. 

However, May 2025 saw a 39.9% year-on-year increase in sales compared to May 2024’s 223 units, signaling improved market sentiment. The first five months of 2025 recorded 4,350 units sold, excluding ECs—an impressive surge from the 1,688 units in the same period last year. This rebound highlights resilient buyer confidence and more compelling project offerings, even amid broader economic uncertainties.

Among the best-selling projects, One Marina Gardens stood out as the top performer, with 62 units sold at a median price of $2,975 psf. This city-fringe development’s success reinforces strong demand for premium RCR homes. Following closely was Bloomsbury Residences with 32 units sold at $2,506 psf, and The Hill @ One-North, which moved 26 units at $2,484 psf. These results point to growing interest in One-North, a precinct benefiting from its proximity to research, innovation, and business hubs.

Looking ahead, the second half of 2025 presents a pivotal window of opportunity. Developers are aligning project launches to coincide with lower unsold inventory, especially in the mass-market segment. From high-end branded homes to city-fringe freehold residences and ECs in emerging precincts, a diverse slate of projects will drive market momentum amid evolving buyer preferences.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: research@sri.com.sg

Property Insight
13 Jun 2025
2H2025 GLS Programme Brings Fresh Opportunities for Homebuyers and Developers

The Government has expanded the 2H2025 Government Land Sales (GLS) Programme to maintain housing affordability and ensure a sustainable pipeline of private homes. The total estimated supply has increased by 8.2% compared to 1H2025, bringing it to 9,200 units across the Confirmed and Reserve Lists. This move builds on earlier injections of land supply and reflects a continued proactive approach in managing housing demand in Singapore’s land-scarce environment.

This calibrated supply approach is timely, especially as recent data shows that private residential prices moderated to a 0.8% increase in 1Q2025, down from 2.3% in 4Q2024. Inventory levels are also adjusting in response. Uncompleted unsold private residential units fell from 19,405 in 4Q2024 to 18,125 in 1Q2025, with the Outside Central Region (OCR) segment experiencing a sharp 43.6% year-on-year drop in unsold stock. This signals strong market absorption and buyer demand, especially among first-time buyers and HDB upgraders.

In response to the sustained demand for Executive Condominiums (ECs), the 2H2025 GLS Programme will introduce two new EC sites at Miltonia Close (Yishun) and Woodlands Drive 17, adding an estimated 990 units. This follows the introduction of three EC sites in 1H2025. Demand in the EC market remains robust. The expanded EC pipeline offers more options to middle-income households, reinforces affordability, and mitigates the “fear of missing out” effect in a tight market.

A clear theme in the 2H2025 GLS Programme is precinct intensification. This involves introducing sites in proximity to existing or upcoming developments, such as the second Turf City plot at Dunearn Road, the eighth site in Lentor at Lentor Central, and the new Dover Road plot in One-North. These strategic locations foster synergy between public infrastructure and housing, supporting the formation of cohesive, future-ready communities.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg 

Property Insight
04 Jun 2025
Lakeside Drive GLS Site Draws Strong Developer Interest with 6 Bidders

The Government Land Sales (GLS) site at Lakeside Drive attracted 6 bids, marking the second-highest number of bids for a GLS site in 2025 to date. CDL Polaris Properties and CDL Polaris Commercial secured the top spot with a $608 million bid, translating to $1,132 psf ppr. This bid outpaced the second-highest by approximately 10.4%, demonstrating CDL’s firm commitment and confidence in the site’s potential.

The strong showing contrasts with the response to the earlier Jurong Lake District white site, which received only two bids and was not awarded. This divergence underscores developers’ preference for sites with more straightforward development parameters and manageable risk, especially in today’s more cautious market climate. With commercial use permitted on the first storey, the Lakeside Drive parcel offers developers flexibility while remaining fundamentally residential in character.

Strategically located adjacent to Lakeside MRT Station, the site boasts immediate connectivity to Boon Lay and Jurong East MRT stations, placing residents within minutes of Jurong Point, Jem, Westgate, and IMM. The broader Jurong region is poised for enhanced accessibility with the upcoming Jurong Region Line and Cross Island Line, further integrating the area with major commercial and education hubs across Singapore.

Lakeside Drive stands out as a rare and timely opportunity for developers. Its location, potential buyer catchment, and proximity to key infrastructure upgrades position it as a highly desirable site with long-term value.

 Click

here

for the full report  

 

 

 

Prepared By: 

Mohan Sandrasegeran 

Head of Research & Data Analytics 

 

 

Email:

mohan@sri.com.sg


 

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