19 Mar 2025
GLS Tender Results: Bayshore Road Site Attracts Strong Developer Interest
Property Insight

Sing-Haiyi Garnet Pte. Ltd. secured the Bayshore Road residential site with a top bid of $658.9 million ($1,388 psf ppr), narrowly surpassing Sing Holdings Residential Pte. Ltd. by 0.8%. The tender attracted eight bidders, reflecting strong developer interest in this well-located site.

This marks the highest number of bidders for a non-EC GLS site since Jalan Tembusu in 2022, underscoring the continued demand for well-located private residential plots. The Bayshore precinct is undergoing major transformation, presenting an opportunity for developers to establish an early foothold in a future waterfront district.

The site’s strategic location enhances its appeal. It is close to Temasek Junior College, Temasek Secondary School, and the upcoming Bayshore MRT station on the Thomson-East Coast Line. Connectivity is further strengthened by the East Coast Parkway (ECP), providing easy access to the CBD and Changi Airport.

This land parcel is the first private residential site launched in the Bayshore neighbourhood, an area envisioned as a dynamic residential and community hub. The Urban Redevelopment Authority (URA) plans to integrate development with green spaces, places of worship, sports and recreational facilities, and educational institutions, fostering a holistic living environment.

The precinct's long-term potential likely contributed to the keen competition, with developers leveraging the First-Mover Advantage to set a benchmark for future developments. The Bayshore transformation began in October 2024 with the launch of two Build-To-Order (BTO) projects. This signals the evolution of Bayshore into a vibrant, well-integrated residential enclave with a blend of coastal living and urban convenience.

The site's proximity to a prestigious landed housing enclave provides an opportunity to attract potential upgraders. Homeowners in these exclusive estates may transition to new condominiums offering modern facilities, enhanced security, and a low-maintenance lifestyle. Additionally, a mature residential catchment could encourage existing homeowners to downsize or invest, further supporting demand.

Overall, this GLS tender reinforces Bayshore’s potential as a desirable residential district, offering connectivity, urban transformation, and investment potential. The strong bidding interest reflects developers’ confidence in the area's 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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Property Insight
15 Oct 2025
Developer Sales Outlook Brightens with New Launches Like Faber Residence and Penrith

Developers moved a total of 255 private residential units (excluding ECs) in September, moderating from the 2,142 units transacted in August. The slowdown was not unexpected, coinciding with the Lunar Seventh Month, a period where homebuying sentiment typically softens. However, the lull proved brief, as Skye at Holland achieved an exceptional performance, selling about 658 units (99% of its total) during its launch weekend in early October surpassing the entire September total.

The positive momentum is expected to continue with the upcoming launches of Faber Residence and Penrith, followed by Zyon Grand, The Sen, and Coastal Cabana (EC) in the coming months. These previews and launches are set to reignite sales momentum in the final quarter of the year, providing a healthy pipeline of new inventory for homebuyers and ensuring a steady stream of fresh supply to meet sustained demand from both upgraders and investors.

Part of the market optimism can be traced to the US Federal Reserve’s rate cut in 2024, which eased liquidity conditions and lifted buyer sentiment. This supportive backdrop was reinforced at the recent Federal Open Market Committee (FOMC) meeting, where the Fed reduced the Funds Target Rate by 25 basis points to a range of 4.00%–4.25%, signalling continued willingness to support growth and lower borrowing costs. The move is expected to enhance affordability and spur stronger buyer confidence, providing further upside for developers timing their launches to capture sentiment shifts.

In September, the highest transacted condominium was a four-bedroom unit at 21 Anderson, sold for $24.0 million. The spacious 4,489 sq ft freehold residence in Tanglin achieved $5,347 psf, marking it as the top condominium sale of the month. This sale reflects the renewed strength of the luxury segment, which saw 21 non-landed new homes priced at $10 million and above transacted in the first nine months of 2025—almost three times the 8 units sold in the same period of 2024.

Among individual projects, Canberra Crescent Residences emerged as the top-seller with 28 units sold at a median price of $2,001 psf, followed by Grand Dunman and River Green. These results reaffirm the continued depth of buyer demand across all regions, from OCR to CCR, as Singapore’s private residential market enters the final quarter on a firm footing.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight
09 Oct 2025
UOL, SingLand and Kheng Leong JV Tops GLS Tender for Dorset Road Site at $1,338 psf ppr

The tender for the Government Land Sales (GLS) site at Dorset Road has officially closed, marking another milestone in the continued rejuvenation of the Farrer Park precinct. The joint venture between UOL Group, Singapore Land Group (SingLand), and Kheng Leong Company emerged as the top bidder, submitting a land price of $524.3 million, which translates to $1,338 psf ppr.

The outcome reflects UOL’s ongoing confidence in the city-fringe residential market, following the strong market reception of its recent joint-venture project, Skye at Holland, which has drawn considerable buyer attention. This momentum likely reinforced UOL’s conviction in pursuing another centrally located site with strong long-term growth potential.

A total of nine bidders participated in the tender, demonstrating sustained developer confidence in well-connected Rest of Central Region (RCR) plots. The competitive turnout underscores developers’ positive outlook for city-fringe housing demand, especially in established neighbourhoods like Farrer Park and Novena, where upcoming transformations are set to enhance the precinct’s appeal.

The Dorset Road site shares similar locational advantages. It is within walking distance of Farrer Park MRT station, City Square Mall, and the Connexion medical and lifestyle complex, while being minutes from key city districts such as Novena and Orchard. Proximity to the Novena healthcare hub, reputable schools, and a rich mix of amenities further enhances the site’s attractiveness to families, professionals, and investors alike.

The future development is expected to yield approximately 425 residential units, positioned within a vibrant and evolving community. The Farrer Park transformation aims to blend modern living with heritage preservation, introducing new housing integrated with sports, wellness, and green spaces that honour the area’s sporting legacy. This thoughtful approach will create a balanced, community-oriented urban environment, reinforcing the precinct’s appeal as a liveable city-fringe destination.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight
01 Oct 2025
3Q2025 Flash Estimates Highlight Balanced Growth in Private and Public Housing

Singapore’s residential property market sustained positive momentum in the third quarter of 2025, reflecting steady demand, a healthy launch pipeline, and stabilising trends across both private and public housing sectors.

Private Property Market

According to flash estimates, private property prices rose by 1.2% in 3Q2025, building on the 1.0% increase in the previous quarter. This brings cumulative growth for the first nine months of 2025 to 3.1%, notably higher than the 1.6% increase recorded during the same period in 2024. The uptick was driven by a strong pipeline of project launches, which provided more options for homebuyers and supported transaction volumes.

Developers exhibited confidence by releasing projects from GLS sites, which in turn helped stabilise primary market prices. Key launches such as Springleaf Residence, River Green, Promenade Peak, Canberra Crescent Residences, and Artisan 8 received healthy buyer response, while July’s wave of launches including The Robertson Opus, UpperHouse at Orchard Boulevard, and LyndenWoods—revitalised sentiment and widened market choices.

Looking ahead, momentum is expected to carry into 4Q2025, supported by previews of Skye at Holland, Faber Residence, Penrith, Zyon Grand, The Sen, Coastal Cabana, and the Jalan Loyang Besar EC. 

HDB Resale Market

HDB resale price growth continued to moderate, rising 0.4% in 3Q2025 compared to 0.9% in 2Q2025. For the first nine months, prices grew 2.9%, significantly slower than the 6.9% surge in the same period last year, indicating greater market balance.

Policy initiatives such as the upcoming Voluntary Early Redevelopment Scheme (VERS) aim to provide long-term renewal pathways for ageing estates, ensuring progressive rejuvenation. In the near term, demand for older flats is expected to remain niche, driven mainly by households downsizing or buyers prioritising affordability.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: research@sri.com.sg

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