SRI - Singapore Realtors Inc.

04 Apr 2025

Kingsford Group Submits Top Bid for Lentor Gardens GLS Site

Property Insight

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.

Click here for the full report

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

You may also like

Property Insight

July 2026 New Home Sales Surge as Major Project Launches Return

Singapore’s primary residential market rebounded strongly in July 2026, with developers selling 731 new private homes excluding Executive Condominiums (ECs), up sharply from 156 units in June. The recovery was driven by the return of fresh residential supply after June recorded no new private residential launches, highlighting the close relationship between launch activity and monthly developer sales.

A total of 889 units were launched across six projects during July. Lentor Gardens Residences and Dunearn House accounted for the bulk of new supply, launching 499 and 250 units respectively. Together, the two projects contributed 749 units, or approximately 83.3% of all units launched during the month. Their strong performance also accounted for 65.9% of all new private homes sold excluding ECs, demonstrating the significant role that major new launches continue to play in shaping monthly sales volumes.

Lentor Gardens Residences was July’s best-selling project, recording 270 transactions at a median price of $2,357 psf. The development’s performance suggests that buyer confidence in the Lentor precinct remains resilient despite it being the seventh private residential project introduced within the estate. As the neighbourhood matures, buyers are increasingly able to assess completed developments, operational amenities and the precinct’s overall liveability, providing greater certainty over its longer-term appeal. External market reporting also recorded 270 sales at Lentor Gardens Residences during its launch period.

Click

here

for the full report:

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight

Singapore Office Market Review 1H2026: Improving Fundamentals Support Recovery

Singapore’s office market showed early signs of recovery in the first half of 2026, supported by improving economic fundamentals, resilient occupier demand and firmer investor sentiment. The price index for office space in the Central Region increased by 0.5% in 1H2026, reversing the -1.2% moderation recorded in 1H2025. While the improvement remains modest, the return to positive growth suggests that office capital values are beginning to stabilize.

The improvement comes alongside stronger economic conditions, with Singapore’s economy expanding by 5.9% year on year in 2Q2026. Sustained demand for digital solutions, banking and insurance activities, as well as professional and technical services, has provided a supportive backdrop for office leasing demand.

Although 99-year leasehold properties continued to dominate strata office transactions with a 66.2% share in 1H2026, this was lower than 74.5% a year earlier. Meanwhile, the combined share of freehold and 999-year leasehold properties increased from 25.5% to 33.8%, indicating stronger interest in assets offering longer-term value preservation.

Leasing fundamentals continued to provide an important source of support. The Central Region office Rental Index increased by 0.6% in 1H2026, compared with no growth in 1H2025. The simultaneous improvement in rents and capital values suggests that the recovery is being supported by genuine occupier demand, with stronger rental income helping to underpin asset valuations and investment returns.

Looking ahead, Singapore’s office market is expected to remain on a stable footing in the second half of 2026. Resilient economic growth, healthy labour market conditions and continued expansion across office-intensive industries should support occupier demand. While investment activity may remain selective amid geopolitical uncertainty and disciplined capital deployment, improving leasing fundamentals are expected to continue supporting rental and capital value stability.

Click

here

for the full report:

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight

Singapore Shophouse Market 1H2026: Higher Value Deals Drive Investment Growth

Singapore's shophouse market in 1H2026 demonstrated continued resilience despite a moderation in transaction volumes, with investment activity increasingly concentrated in higher-value assets. While the number of caveated shophouse transactions declined from 34 deals in 1H2025 to 25 deals in 1H2026, the total transaction value increased by 14.9% year-on-year, rising from $234.7 million to $269.5 million. This suggests that investors remained willing to deploy significant capital into larger, well-located and higher-quality conservation assets, reinforcing confidence in the long-term fundamentals of the shophouse sector.

Investor preference continued to favour longer-tenure properties. Freehold shophouses accounted for 76.0% of total transaction value in 1H2026, broadly unchanged from the previous year, while transaction value within this segment increased substantially from $176.7 million to $224.0 million. Although 99-year leasehold properties recorded a higher share of overall transactions compared to a year ago, demand remained firmly concentrated in freehold and 999-year leasehold assets, which together represented 84.0% of total transaction value. This reflects continued demand for scarce commercial assets that offer long-term capital preservation, stable rental income and limited exposure to lease decay.

Looking ahead, investment demand is expected to remain resilient through the second half of 2026, supported by Singapore's healthy economic performance, lower interest rate environment and the structural scarcity of conserved shophouses. Investors are likely to continue prioritising well-located assets offering resilient rental income, asset enhancement opportunities and long-term capital appreciation. The combination of limited supply, heritage value and stable income-generating potential is expected to provide continued support for transaction values and reinforce the long-term attractiveness of Singapore's shophouse market.

Click

here

for the full report:

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Singapore Realtors Inc

CEA License No. L3010738A

1 Kim Seng Promenade #17-10/12

Great World City, West Tower

Singapore 237994

admin@sri.com.sg

For Home Owners

Commission Guidelines

For Corporate

Property Management

Local Project Marketing

Capital Markets

International Project Marketing

For Agents

Culture and Community

Technology & Tools

Company

© 2026 SRI Pte Ltd • Privacy Policy & Data Protection • Terms of Service

Follow us on