SRI - Singapore Realtors Inc.

04 Jun 2025

Lakeside Drive GLS Site Draws Strong Developer Interest with 6 Bidders

Property Insight

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.

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Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

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Resale Activity Picks Up in 2Q2025 as HDB Prices Stabilise

The HDB resale market in the second quarter of 2025 saw a clear moderation in price growth, aligning with the ongoing trend of a stabilising market. The Resale Price Index (RPI) recorded a 0.9% quarter-on-quarter increase in Q2 2025, bringing the total rise for the first half of 2025 to 2.5%. This is a notable deceleration from the 4.2% growth registered during the same period in 2024, reflecting a shift towards more measured and sustainable price movements.

Resale activity saw a modest rebound in Q2 2025, with 7,102 flats transacted, up 7.8% from the previous quarter. This increase is partly attributed to the deferment of the June BTO exercise to July, prompting some buyers to turn to the resale market instead. Nevertheless, on a half-yearly basis, transaction volumes fell to 13,692 flats – a 5% year-on-year decline – with steeper drops observed among larger flat types.

Million-dollar deals remain a small fraction of the total market. Looking ahead, the market is expected to stabilise further, supported by increased BTO and SBF flat supply, including more Shorter Waiting Time (SWT) flats. These are likely to absorb some demand from the resale market, particularly among buyers who are willing to wait for a new flat instead of paying a premium in the resale segment.

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here

for the full report

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: research@sri.com.sg

Property Insight

New Private Home Sales More Than Double in 1H2025

The private residential market in Singapore demonstrated resilience in 1H2025, despite a moderation in the second quarter. Private resale volumes rose 11.1% year-on-year to 7,212 transactions, up from 6,491 in 1H2024. This growth reflects continued demand for move-in-ready homes, particularly among upgraders. In the resale segment, large-scale developments with full facilities and strong MRT connectivity remained top choices. Treasure at Tampines led with 45 transactions, followed by Parc Esta (33), The Tapestry (31), and Riverfront Residences (30), reaffirming buyer preference for projects with practical layouts and location advantages.

New home sales recorded a remarkable surge in 1H2025, jumping from 1,889 to 4,587 units. This more than twofold increase signals strong buyer confidence and renewed interest in project launches. The Rest of Central Region (RCR) accounted for much of this growth, driven by successful launches such as One Marina Gardens, Bloomsbury Residences, and The Orie. The Outside Central Region (OCR) also saw robust demand, especially for affordably priced projects offering suburban convenience.

Newly launched luxury projects such as Robertson Opus saw strong uptake, with over 41% of units sold—primarily 2- and 3-bedroom units. This reflects continued appetite for well-curated, prime residences that offer exclusivity and long-term value.

Launches such as LyndenWoods, which sold 94% of its units on launch day, along with strong previews at River Green and Promenade Peak, suggest that underlying buyer confidence remains intact. These developments, located in tightly held areas near Great World MRT, offer rare opportunities for buyers seeking new supply in established neighbourhoods.

Despite global uncertainties, Singapore’s private residential market is expected to maintain its overall stability, anchored by sound fundamentals and buyer confidence.

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here

for the full report

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: research@sri.com.sg

Property Insight

New Private Home Sales Rise 19.3% YoY in June 2025

In June 2025, developers sold 272 private residential units (excluding Executive Condominiums), marking a slight moderation from the 312 units transacted in May. This dip was largely anticipated due to the school holiday period, which typically sees a lull in market activity. Moreover, the lack of major new launches during the month—limited to just Arina East Residences and Amber House with a combined 187 units—contributed to the reduced buyer engagement.

Despite the monthly moderation, sales showed a 19.3% year-on-year increase from the 228 units sold in June 2024. The performance underscores the ongoing recovery in the primary market, supported by resilient demand for new homes. Looking forward, developers are preparing for a more robust launch pipeline in the second half of the year, which includes highly anticipated projects such as The Robertson Opus, Promenade Peak, River Green, and LyndenWoods—CapitaLand Development’s debut project at Singapore Science Park, which sold over 94% of its 343 units on launch day.

June’s top-selling project was One Marina Gardens, which continued its strong sales performance with 49 units transacted at a median price of $2,962 psf. Since its April launch, the project has sold more than half its units, reflecting continued demand for well-located luxury homes in the Rest of Central Region (RCR).

Click

here

for the full report

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: research@sri.com.sg

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