11 Nov 2025
Bukit Timah Road GLS Draws Strong Developer Interest with Top Bid at $1,820 psf ppr
Property Insight

The Bukit Timah Road Government Land Sales (GLS) site attracted strong developer interest, drawing eight bidders in total. The top bid was submitted by HH Investment Private Limited, a company linked to Taiwan’s Huang Hsian Construction Corporation, at $566.3 million or $1,820 psf ppr. This outpaced the second-highest bid from Hoi Hup Realty and Sunway Developments by 12.3%, underscoring robust confidence in the site’s long-term potential. It also marks the highest GLS land bid since the Cuscaden Road site in 2018, which achieved $2,377 psf ppr.

The spirited participation highlights developers’ optimism toward the Core Central Region (CCR) market amid its ongoing recovery. With limited centrally located residential plots available, the strong premium over competing bids demonstrates the strategic value developers place on sites that combine connectivity, exclusivity, and investment resilience.

Located within the Newton Planning Area, the site is zoned for Residential (Non-Landed) use and is expected to yield about 340 housing units. It benefits from direct access to Newton MRT Interchange, linking the North–South and Downtown Lines, and close proximity to Orchard Road and the CBD. This connectivity enhances its appeal among both investors and owner-occupiers seeking convenience and long-term capital stability.

The area’s transformation is further supported by the upcoming Draft Master Plan 2025, which envisions Newton evolving into a vibrant mixed-use precinct anchored around Newton Circus, Scotts Road, and Monk’s Hill. These clusters are set to feature enhanced greenery, improved public spaces, and an integrated mix of residential, lifestyle, and retail offerings. The Bukit Timah Road GLS site will likely emerge as a key catalyst in this rejuvenation, potentially serving as the first major residential development to lead Newton’s renewal journey.

The tender outcome mirrors earlier activity in the Newton precinct, particularly the Kampong Java Road GLS site that was awarded for Kopar at Newton, which attracted seven bids at the time. The consistency of competition affirms the enduring attractiveness of Newton as a luxury residential enclave and its positioning for long-term growth.

Market momentum in the CCR strengthened in 3Q2025, with developers selling 903 units, the highest quarterly figure since 4Q2010 (994 units). This resurgence reflects growing confidence and demand among affluent buyers, buoyed by recent successful launches such as River Green, UpperHouse at Orchard Boulevard, and The Robertson Opus. These projects have reignited enthusiasm for luxury homes through strong branding, architectural distinction, and desirable locations.

The sustained performance of the CCR segment reinforces the market’s resilience, particularly for premium developments that continue to draw discerning local and foreign buyers seeking enduring 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 Jun 2026
RCR Demand Drives 43.3% Growth in New Home Sales in May 2026

Singapore's new home market moderated in May 2026, with developers selling 447 new private homes excluding Executive Condominiums (ECs), down from the 1,548 units transacted in April. 

Despite the monthly moderation, market performance remained encouraging on a year on year basis. New home sales increased by 43.3% from the 312 units sold in May 2025 to 447 units in May 2026. The improvement was primarily driven by stronger activity in the Rest of Central Region (RCR), where sales rose from 191 units to 334 units over the same period. The strong showing highlights continued demand for city fringe developments that offer a balance between accessibility, lifestyle amenities and relative affordability. The year on year growth also suggests that buyer confidence remains intact, with purchasers continuing to participate actively in the market despite a more measured operating environment.

Hudson Place Residences emerged as the standout performer of the month. As the only major launch in May, the project accounted for nearly half of all new private home sales, moving 209 units at a median price of $2,465 psf. The strong response demonstrates that buyers remain receptive to projects that are well located, well connected and competitively positioned within their respective market segments.

Looking ahead, new home sales are expected to remain relatively subdued in June due to the seasonal impact of the mid year school holidays and the limited number of major launches scheduled during the month. However, this is likely to be temporary. Market activity is expected to regain momentum in the second half of 2026 as a fresh pipeline of launches enters the market. Upcoming projects such as Lentor Gardens Residences and Dunearn House are expected to attract healthy interest, while buyers who have remained on the sidelines may return as more options become available. Barring any significant external shocks, the primary residential market is expected to remain on stable footing, supported by resilient underlying demand and a steady pipeline of new launches.

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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
15 Jun 2026
Peck Hay Road GLS Draws Top Bid of $1,865 psf ppr from CDL and Hong Leong Group

Peck Hay Road Government Land Sales GLS site attracted four bids at the close of its tender on 11 June 2026, with the highest offer submitted by CDL Constellation Pte. Ltd. and Garden Estates (Pte.) Limited (Hong Leong Group) at $542.4 million, translating to a land rate of $1,865 psf per plot ratio (psf ppr). The winning bid reflects strong confidence in the long term prospects of the Newton area despite a relatively lower number of participants compared to the neighbouring Bukit Timah Road GLS site, which attracted eight bids earlier this year. 

Despite fewer bidders, bidding intensity remained healthy. The top bid exceeded the $1,820 psf ppr achieved for the nearby Bukit Timah Road site awarded earlier this year, highlighting continued confidence in well located Core Central Region developments. This suggests that developers remain willing to compete aggressively for prime sites with strong fundamentals, particularly those located within established residential districts and supported by future transformation plans. 

The Peck Hay Road site enjoys several locational advantages. Situated within the Newton Planning Area, the site is expected to yield approximately 315 residential units and is located near Newton MRT Interchange, providing direct access to both the North South Line and Downtown Line. Residents will benefit from excellent connectivity, including being just one MRT stop from Orchard Road and only minutes away from the Central Business District. These attributes enhance the site's appeal among owner occupiers, investors and affluent homebuyers seeking a central location. 

Click

here

for the full report:

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight
08 Jun 2026
Higher GLS Supply in 2H2026 Supports Long Term Residential Market Growth

The Government has announced the 2H2026 Government Land Sales (GLS) Programme, which will introduce 4,745 private residential units under the Confirmed List, representing a 3.7% increase from the 4,575 units released in 1H2026. The latest programme reflects the Government's continued commitment towards maintaining market stability through proactive land supply management. By ensuring a steady pipeline of future housing supply, the authorities provide greater visibility to both developers and homebuyers while supporting a more balanced and sustainable residential market.

A notable feature of the 2H2026 GLS Programme is the concentration of supply within several large development parcels. The Town Hall Link White Site alone is expected to yield approximately 1,200 residential units, accounting for about a quarter of the total Confirmed List supply. Together with the Jurong East Avenue 1 Executive Condominium (EC) site, Berlayer Close and Holland Plain, these larger sites contribute a substantial portion of the overall housing pipeline. This suggests that the Government is prioritising land parcels capable of delivering significant housing stock in key growth locations.

The programme also demonstrates a strong emphasis on transit-oriented development. Many of the sites are located near existing or future MRT stations, including Orchard Boulevard, Marina Gardens Lane, Tanjong Rhu Close, Berlayer Close and Town Hall Link. This reflects the Government's ongoing efforts to concentrate housing supply in highly accessible locations where residents can benefit from established transport infrastructure and amenities.

Overall, the 2H2026 GLS Programme reflects a coordinated approach towards meeting future housing demand while advancing broader planning priorities such as decentralisation, connectivity and urban transformation. With sites spread across the Core Central Region, Rest of Central Region and Outside Central Region, the programme offers a diverse range of housing opportunities while supporting long term market stability and sustainable 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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