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.

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Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg  

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Property Insight
17 Sep 2026
Developer Sales August 2026: Existing Projects Sustain Buyer Interest

Singapore’s new private home market took a breather in August 2026, with 153 units sold excluding Executive Condominiums (ECs), compared with 731 units in July. The moderation was largely anticipated due to the absence of major new project launches and the Hungry Ghost Festival period, when developers traditionally take a more measured approach towards launches. As such, the lower sales volume primarily reflects launch timing and limited fresh supply rather than a significant shift in underlying homebuyer demand. 

The quieter launch calendar gave previously launched projects greater visibility and a longer window to sustain marketing efforts and convert buyer interest. July launches Dunearn House and Lentor Gardens Residences emerged as August’s two best-selling projects. Dunearn House recorded 18 units sold at a median price of $3,008 psf, while Lentor Gardens Residences sold another 15 units at a median $2,367 psf. Their continued sales indicate that buyer interest carried through beyond the initial launch period despite the quieter primary market. 

Other projects continued to record transactions. Coastal Cabana EC and The Sen each sold 12 units, followed by Union Square Residences with 10 units and Hudson Place Residences with nine. Arina East Residences recorded eight sales, while Chuan Park, Narra Residences and Rivelle Tampines EC each sold six units. The project table on page 2 shows that demand remained spread across the Core Central Region, Rest of Central Region and Outside Central Region. 

Existing EC projects under the previous framework also remained well absorbed. As of August, Aurelle of Tampines, North Gaia, Otto Place and Rivelle Tampines had each sold more than 97% of their units. Coastal Cabana was 82.1% sold, with 134 units remaining. The EC market is entering a transition following policy measures introduced in May and the subsequent National Day Rally announcement, which raised the EC household income ceiling from $16,000 to $18,000 for projects on sites where land sale tenders close on or after 24 August 2026. Existing projects and sites awarded before the effective date will continue under the previous framework. 

Looking ahead, September could remain relatively measured amid the school holiday period, although the new home market is positioned for a subsequent pickup. Upcoming projects including Amberwood at Holland, Lucerne Grand, Thomson Reserve and The Serra Residences are expected to introduce fresh residential supply and broaden homebuyer choices across different locations and market segments. 

The return of major launches should help reenergise primary market activity, with sales momentum for the remainder of 2026 increasingly shaped by the timing, pricing and market reception of these developments. External economic and financing conditions are also expected to become increasingly important considerations for homebuyers as the market moves into the next phase of its launch cycle. 

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here

for the full report:

 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight
17 Sep 2026
Lorong Puntong GLS Tender: Eco World Tops Bid at $1,612 PSF PPR

The Lorong Puntong / Sin Ming Avenue Government Land Sales (GLS) site attracted seven bids, with Eco World Development (S) Pte. Ltd. submitting the highest offer of $208.1 million, equivalent to $1,612 psf ppr. The next highest bid, from Intrepid Investments Pte. Ltd. and TID Residential Pte. Ltd., was $187.3 million or $1,451 psf ppr. The site is expected to yield approximately 140 residential units, providing an opportunity for a relatively smaller-scale private residential development within the established Upper Thomson and Bishan catchment. 

A key attribute of the site is its proximity to Bright Hill MRT station, which provides convenient access to the Thomson-East Coast Line and direct connectivity towards Orchard, Marina Bay and the CBD. Longer term, Bright Hill is expected to become an interchange with the future Cross Island Line, further enhancing east-west connectivity and access to employment, commercial and lifestyle nodes across Singapore. The site also benefits from an established education catchment that includes Ai Tong School, CHIJ St Nicholas Girls' School, Catholic High School and Raffles Institution. 

The wider Bishan area's continued evolution could further support the site's appeal. Planning initiatives associated with the rejuvenation of Bishan Town Centre are expected to strengthen commercial, community and public spaces while expanding employment and amenity offerings. Meanwhile, the upcoming launch of Thomson Reserve could build greater market awareness of the Upper Thomson and Sin Ming locality, establish fresh pricing benchmarks and demonstrate underlying demand ahead of the future Lorong Puntong development. 

From a developer perspective, the relatively modest unit count could offer a more manageable project with lower overall capital commitment and potentially reduced sales and execution risk compared with substantially larger developments. For buyers, the project could provide a smaller and potentially more intimate residential environment within the established Bishan and Upper Thomson catchment.

Click

here

for the full report:

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight
14 Sep 2026
Singapore Rental Property Market 1H2026: Stable Growth Amid Resilient Leasing Demand

Singapore’s residential rental market remained resilient in the first half of 2026, with the overall private residential rental index rising by 1.0%, following the 1.2% increase recorded in 1H2025. The measured increase points towards a more balanced and sustainable rental environment, as the market continues to absorb the wave of private housing completions delivered over the past two years. Leasing demand remains supported by Singapore’s resilient labour market, continued inflow of expatriate professionals and stable economic conditions. 

Leasing demand was also well distributed across individual developments. Normanton Park emerged as the most actively leased RCR project with an estimated 426 transactions, while Treasure at Tampines led the OCR with 301 transactions. Within the CCR, Marina One Residences recorded 289 transactions, ahead of The Sail @ Marina Bay and The M. These trends highlight tenant preferences for accessibility, proximity to employment centres, lifestyle amenities and value for money. 

Looking ahead, Singapore’s residential rental market is expected to remain broadly stable through the second half of 2026, with rental growth likely to stay measured. Approximately 5,012 private residential units are scheduled for completion over the remainder of 2026, expanding rental inventory and providing tenants with greater choice. The HDB market should also benefit from an expanding supply of flats reaching their Minimum Occupation Period, with around 18,000 flats expected to reach MOP in 2027 and approximately 21,000 in 2028. Overall, healthy underlying demand and increasing housing supply are expected to support a more balanced rental environment characterised by greater tenant choice, improved affordability and moderate rental growth. 

Click

here

for the full report:

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

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