10 Mar 2025
One-North’s Growth: Qingjian Realty & Forsea Residence Submit Top Bid for Media Circle
Property Insight

The Government Land Sales (GLS) tender for Media Circle (Parcel A), designated for residential development with commercial use on the first storey, concluded with a top bid of $315.0 million ($1,037 psf ppr). The top bid came from CNQC Realty (Bloomsbury) Pte. Ltd. (Qingjian Realty), Forsea Residence Pte. Ltd., and Hoovasun Holding Pte. Ltd. 

Having already secured another site in Media Circle, Qingjian Realty and Forsea Residence continue to expand their One-North presence. Their aggressive acquisition strategy underscores confidence in the area's long-term growth, given One-North’s role as a hub for innovation, research, and technology-driven industries. Their strong optimism in the demand for high-quality residential projects is reflected in their competitive bid, further reinforcing the precinct’s attractiveness.

Located within the Queenstown Planning Area, Media Circle (Parcel A) benefits from its strategic positioning in a vibrant mixed-use environment. The area’s limited housing stock presents a unique opportunity to meet demand while leveraging proximity to key industries, educational institutions, and transport networks. This creates a highly connected and convenient residential ecosystem that integrates seamlessly with the live-work-play model.

The Rest of Central Region (RCR) experienced 5.8% growth in non-landed home prices in 2024, surpassing the 3.1% increase in 2023. This price momentum signals renewed buyer interest, supported by new project launches such as The Hill @One-North, Emerald of Katong, and Nava Grove. These developments reinforce the RCR’s investment potential and desirability as a residential choice.

With the upcoming Bloomsbury Residences launch at Media Circle, expectations are set for new pricing benchmarks. Based on market trends and buyer sentiment, new launch prices are projected between $2,300 and $2,400 psf. This aligns with the premium pricing attached to RCR properties, reflecting strong demand and a resilient private residential market.

As Singapore’s property market continues to evolve, the sustained interest in One-North developments highlights the importance of strategic land acquisition in prime locations. Developers remain optimistic, recognizing the area’s growth potential and the need for well-integrated urban solutions.

 

Click here for the full report  

  

  

Prepared By: 

Mohan Sandrasegeran 

Head of Research & Data Analytics 

  

  

Email: mohan@sri.com.sg
 

   

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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

Property Insight
04 Sep 2026
New Upper Changi Road GLS Tender Sets New OCR Land Benchmark

The New Upper Changi Road Government Land Sales (GLS) site attracted an exceptionally strong top bid of approximately $1.43 billion, or $1,537 psf ppr, from United Venture Development (Daisy) Pte. Ltd. and CL Sapphire Pte. Ltd., a joint venture between UOL and CapitaLand. The result represents a new record land bid for an Outside Central Region (OCR) residential parcel in recent memory, particularly notable given the site's substantial scale and capital commitment. 

A key factor supporting the tender outcome is the relative scarcity of major new private residential projects around Bedok MRT. Sky Eden@Bedok, comprising 158 units, was launched in 2022 and sold more than 75% of its units during its launch weekend before achieving a complete sell-out by 2024. With no comparable major project launched in the immediate Bedok MRT vicinity since then, the eventual New Upper Changi Road development could tap into a refreshed pool of demand. 

The site is expected to yield approximately 1,010 residential units, placing it firmly within the mega-development category. Its proximity to Bedok MRT station, Bedok Bus Interchange and Bedok Mall, together with the established schools, retail, food and healthcare amenities within the mature Bedok estate, should broaden its appeal to owner-occupiers, investors and particularly HDB upgraders from Bedok and the wider East region. The location map on page 2 further illustrates the site's immediate proximity to Bedok's established transport and amenity network. 

Click

here

for the full report:

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight
28 Aug 2026
Singapore Industrial Property Market 1H2026: Resilient Growth Continues

Singapore’s industrial property market remained resilient in the first half of 2026, with prices, transaction activity and rents continuing to rise despite a more uncertain global economic environment. According to JTC’s industrial property price index, prices increased by 1.8% in 1H2026, moderating from the 2.9% growth recorded in 1H2025. The continued expansion of Singapore’s manufacturing sector, supported by artificial intelligence-related demand across semiconductors, infocomms and consumer electronics, provided a supportive backdrop for the industrial market. 

Strata industrial transaction activity also strengthened, with caveated sales increasing 4.3% year on year from 797 transactions in 1H2025 to 831 transactions in 1H2026. Multiple-user factories continued to dominate the market, accounting for 92.8% of strata industrial transactions. 

Looking ahead, Singapore’s industrial property market is expected to remain resilient through the second half of 2026. Continued strength in electronics, semiconductors, precision engineering and other advanced manufacturing industries should underpin demand for modern industrial facilities. Growing adoption of AI technologies and investment in higher-value manufacturing activities are also expected to support demand for high-specification factories, logistics facilities and selected business parks. 

Click

here

for the full report:

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

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