21 Feb 2024
Entering Landed Property Arena in 2024
Property Insight

In 2024, Singapore's landed property market is poised to experience continued interest and growth, buoyed by its appeal as a symbol of prestige and the unique architectural diversity it offers. The market witnessed a 4.5% increase in the landed property price index in the last quarter of 2023.This uptrend underscores the robust demand for luxury and exclusivity inherent to landed properties, despite the broader economic challenges.

The year 2023 saw remarkable transactions, including a record sale at Chancery Lane and noteworthy acquisition by Sustained Land at Dyson Road,signaling vibrant markets characterized by high-profile deals and a keen interest in redevelopment opportunities.

Despite the introduction of cooling measures aimed at moderating the property market,landed property sales have shown resilience. Historical patterns suggest that sales volumes typically rebound 1 to 2 years following the implementation of such measures, driven by a combination of cautious optimism among buyers and the enduring allure of landed homes.

In 2023, the segment recorded 1,452 transactions, reflecting sustained interest despite higher Additional Buyer's Stamp Duty (ABSD) rates potentially impacting foreign investment.The stability and perceived security of Singapore's property market continue to attract the ultra-rich, with a particular focus on high-net-worth individuals (HNWIs) and new citizens who value the exclusivity and investment potential of landed properties.

Geographically, District 19 emerged as a hotspot with the highest number of transactions in2023, illustrating the diverse appeal of landed properties across Singapore's different districts. The trend of HDB upgraders moving into the landed property segment further exemplifies the aspiration for upscale living, spurred by the increasing number of million-dollar HDB resale transactions.

Good Class Bungalows (GCBs) remain the epitome of luxury living in Singapore, representing the pinnacle of the landed property market. Although transactions within this highly exclusive category saw a decrease in 2023, the market for GCBs is believed to be much more active than reported, given the privacy preferences of buyers and sellers in this elite segment. The ongoing demand for GCBs from HNWIs and new citizens underscores their status as not just luxury homes but as coveted investment opportunities, promising stability and potential appreciation in value.

Looking ahead to 2024, the landed property market is expected to maintain its momentum,with sales volumes projected to range between 1,400 to 1,500 units. This outlook is buoyed by the intrinsic appeal of landed homes as lifestyle investments that offer not only a place of residence but a statement of prosperity and a legacy asset. As Singapore continues to attract global wealth and aspires to maintain its status as a safe haven for property investments, the landed property sector is set to remain a vibrant and integral component of the nation's real estate landscape, offering both challenges and opportunities for buyers, sellers, and investors alike.

Click here for the full report

Prepared By:
Mohan Sandrasegeran
Head of Research & Data Analytics





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Bayshore Drive GLS Tender Attracts $2.13 Billion Top Bid Amid Strong Developer Confidence

The Bayshore Drive Government Land Sale (GLS) tender attracted three competitive bids, with a consortium comprising Frasers Property, Sunway MCL, Sekisui House and Lum Chang submitting the highest bid of $2.13 billion, translating to $1,323 psf per plot ratio (psf ppr). Although this was below the $1,388 psf ppr achieved by the neighbouring Bayshore Road GLS site, now launched as Vela Bay, the difference reflects the distinct planning and development requirements of the Bayshore Drive parcel rather than weaker developer sentiment.

The site is expected to yield approximately 1,280 residential units, making it one of the largest private residential developments within the emerging Bayshore precinct. Unlike a conventional residential project, the site will also incorporate an integrated bus interchange and supporting commercial components alongside Bedok South MRT Station. These additional infrastructure and construction requirements likely influenced developers' bidding strategies while still demonstrating confidence in the area's long-term growth potential.

The encouraging participation from three bidders highlights that developers remain willing to pursue sizeable land parcels where they see strong underlying demand. Confidence has also been supported by the successful launch of neighbouring Vela Bay, which reportedly achieved more than 72% sales during its launch weekend, reinforcing buyer acceptance of the Bayshore precinct. Combined with excellent MRT connectivity, established amenities and the Government's long-term plans for the East Coast, these factors continue to strengthen the investment appeal of the area.

The trend towards larger developments is also evident in recent land acquisitions, including the successful collective sale of Loyang Valley, reflecting developers' continued willingness to undertake sizeable redevelopment projects despite higher capital commitments and longer development timelines. At the same time, buyer interest in upcoming mega developments, including Thomson Reserve, remains encouraging, suggesting continued market acceptance of larger-scale residential communities.

Click

here

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Prepared By:

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Head of Research & Data Analytics

Email: mohan@sri.com.sg

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16 Jul 2026
June 2026 Developer Sales Report: Stable Market Fundamentals Support Growth Outlook

Singapore's primary residential market experienced a temporary slowdown in June 2026, with developers selling 156 new private homes (excluding Executive Condominiums), down from 447 units in May. The decline was largely anticipated, reflecting the seasonal effect of the June school holidays and the absence of any new project launches during the month. Rather than signalling weaker market conditions, the slowdown highlights the launch-driven nature of Singapore's primary residential market, where transaction volumes are closely tied to the availability of new supply.

Among all projects, including Executive Condominiums, Coastal Cabana emerged as the best-selling development, recording 21 units sold. The project continues to benefit from being launched under the previous Executive Condominium framework, allowing eligible buyers to purchase remaining units under earlier regulations. Combined with its attractive location, strong connectivity and competitive pricing, the development has maintained healthy sales momentum. Other top-performing projects included Hudson Place Residences, Chuan Park, The Continuum and Union Square Residences.

Looking ahead, market activity is expected to recover as several major launches enter the market. Lentor Gardens Residences and Dunearn House are expected to provide an early indication of buyer sentiment following June's quieter market, while Thomson Reserve, with over 1,200 units, is likely to become one of the most significant launches in the second half of 2026, addressing pent-up demand within the Rest of Central Region (RCR). Additional launches, including Lucerne Grand and future developments at Chuan Grove and Holland Link, are expected to further strengthen market activity.

 

Click

here

for the full report: 

  

  

Prepared By: 



Mohan Sandrasegeran 



Head of Research & Data Analytics 

  

Email: mohan@sri.com.sg  

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10 Jul 2026
Singapore CCR Luxury Homes See Strong Sales Recovery in 1H2026

Singapore’s luxury residential market in the Core Central Region (CCR) remained resilient during the first half of 2026, although price growth moderated as the market transitioned towards a healthier balance between supply and demand. Based on URA flash estimates, the non-landed private residential price index in the CCR increased by an estimated 2.6% in 1H2026, compared with 3.8% in 1H2025. While capital appreciation eased, the continued increase reflects sustained confidence in Singapore’s prime residential market amid expanding supply and evolving buyer preferences. 

A key development during the period was the significant revival in new project launches. Approximately 701 units were launched in the CCR, representing the strongest half-year launch pipeline since 1H2022 and a sharp increase from just 96 units in 1H2025. This recovery was primarily driven by River Modern and Newport Residences, reflecting the gradual rollout of projects from previously awarded Government Land Sales (GLS) sites and providing buyers with a broader selection of luxury homes. 

The stronger supply translated into a sharp rebound in new home sales. An estimated 761 new homes were sold in 1H2026, more than tripling the 236 units recorded a year earlier and marking the highest sales volume since 1H2023. River Modern led the market with 424 units sold at a median price of $3,229 psf, while Newport Residences achieved 198 sales at a median price of $3,070 psf. Together, these two projects accounted for about 81.7% of all new CCR home sales, highlighting their significant contribution to market recovery. 

Looking ahead, the luxury residential market is expected to remain active in the second half of 2026 with upcoming launches such as Dunearn House, Amberwood at Holland, and The Serra Residences. Supported by a healthy pipeline of new supply, resilient domestic demand, and Singapore’s reputation as a global financial centre and safe-haven destination, the CCR market is expected to maintain stable transaction activity while continuing its transition towards more sustainable long-term 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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