25 Oct 2024
Tampines Street 95 Executive Condominium Site Attracts Strong Developer Interest
Property Insight

The tender for the Executive Condominium (EC) site at Tampines Street 95 saw Sim Lian Land Pte Ltd and Sim Lian Development Pte Ltd emerging as the top bidders, offering $465.0 million, which translates to $768 per square foot per plot ratio (psf ppr). The second-highest bid of $457.5 million, equivalent to $756 psf ppr, came from a consortium involving SNC2 Realty Pte. Ltd., Apex Asia Alpha Investment Two Pte. Ltd., Kay Lim Realty Pte. Ltd., and Heeton Homes Pte. Ltd. This marginal difference of 1.6% between the top two bids underscores the competitive nature of the tender, indicating the strong interest from developers in securing a foothold in this desirable location.

The Tampines Street 95 EC site is strategically located near the Tampines West MRT station, providing excellent connectivity for both residents and businesses. Additionally, it is close to major shopping destinations such as Tampines Mall, Tampines 1, and Century Square, which offer a variety of retail, dining, and entertainment options. The site is expected to benefit from the amenities of a recently closed mixed-use Government Land Sale (GLS) site, which is likely to be launched and completed before the EC project.

An analysis of the new EC sales in the Tampines Planning Area shows median unit prices were around the $1,500 psf mark in the first three quarters of 2024. This trend reflects sustained demand for ECs in Tampines due to the area's established amenities, connectivity, and overall appeal. The data also indicates that buyers are confident in the long-term value of ECs in the area.

The overall transaction data for new ECs in the first nine months of 2024 reveals that 51% of units sold were priced at $1,500 psf and above, reflecting a growing willingness among buyers to invest in higher price points. This trend underscores the robust demand for well-located ECs, even as price levels increase. Buyers continue to prioritize strategic positioning, lifestyle amenities, and the unique attributes of ECs as a hybrid between public and private housing.

The popularity of ECs can be attributed to their appeal as a gateway to the private residential market for HDB upgraders. The increase in demand for higher-priced units also reflects buyers' confidence in the long-term value appreciation of ECs. Despite rising prices, ECs remain attractive to HDB upgraders and first-time buyers who value their strategic location, comprehensive amenities, and potential for long-term investment growth.

Considering these demand dynamics, it is expected that future EC projects will continue to launch at comparable or slightly higher prices, particularly if they are situated in highly desirable locations

In conclusion, the competitive bidding for the Tampines Street 95 EC site, combined with the sustained demand for ECs in the Tampines Planning Area, highlights the appeal of this location for both developers and buyers. The strategic positioning, connectivity, and amenities make ECs an attractive option, with buyers showing a growing interest in higher price points, driven by the long-term value these developments are expected to provide.

 

Click here for the full report   

Prepared By: 

Mohan Sandrasegeran 

Head of Research & Data Analytics  

Email: mohan@sri.com.sg

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07 Aug 2026
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.

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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
07 Aug 2026
Berlayar Drive GLS Attracts Sole Top Bid of $576.8 Million

The Berlayar Drive Government Land Sales site attracted a sole bid of $576.8 million, equivalent to $1,515 per square foot per plot ratio, from a joint venture between Intrepid Investments Pte. Ltd. and GuocoLand (Singapore) Pte. Ltd. The bid underscores the developers’ continued conviction in the long-term potential of the Greater Southern Waterfront and their commitment to establishing a presence within one of Singapore’s most significant waterfront transformation precincts. 

Although the site received only one bid, this should not necessarily be interpreted as weak confidence in its prospects. Instead, it reflects increasingly disciplined land-acquisition strategies amid a larger GLS pipeline and more selective capital deployment. With a wider range of sites available, developers are likely to prioritise parcels that best complement their existing landbanks, development pipelines and risk profiles.

Berlayar Drive is the second private residential parcel within the new estate, following the Telok Blangah Road site. A further residential parcel at Berlayar Close is expected to be launched in December. This phased release reflects the Government’s measured approach to developing the Greater Southern Waterfront, allowing future housing supply to be introduced progressively rather than all at once.

The Berlayar Drive site is expected to yield approximately 415 residential units. Its smaller project scale should require a lower upfront capital commitment and reduce construction, financing and market-absorption risks compared with larger developments. The site also carries a maximum building height of five storeys, creating the potential for a distinctive low-rise residential offering focused on privacy, greenery and resort-style living.

Future residents are expected to benefit from proximity to Telok Blangah MRT station, VivoCity, Sentosa, the Southern Ridges and Labrador Nature Reserve. This combination of connectivity, retail and lifestyle amenities, waterfront surroundings and access to nature is likely to support healthy long-term owner-occupier demand.

Click

here

for the full report:

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight
07 Aug 2026
Chitty Road and Veerasamy Road GLS Tender Draws $35.3 Million Top Bid

The tender for the Chitty Road and Veerasamy Road Government Land Sales site attracted seven bids, with YK Land Pte. Ltd submitting the highest offer of $35.3 million. The bid translates to approximately $962 per square foot of site area and was substantially higher than the second-ranked bid of $23.8 million, or $650 per square foot, submitted by Conint Pte Ltd and SEEDoE Ventures Pte Ltd. RPC One Pte Ltd placed third with a bid of $23.7 million. 

The site benefits from strong accessibility and a central location. It is within walking distance of Jalan Besar and Little India MRT stations, while Bugis, Rochor and the Central Business District are also nearby. Opportunities to acquire an entire cluster of conserved residential buildings in Singapore’s Central Area are exceptionally rare, giving the project the potential to become a distinctive heritage residential development.

Under the SA2 option, the site may accommodate up to 36 serviced apartment units with a minimum stay of three months. This could appeal to professionals, expatriates and other residents seeking medium- to longer-term accommodation. The higher unit yield may also offer the developer recurring rental income and greater operational flexibility.

Alternatively, the site could be developed into up to 18 strata landed houses, subject to approval. This option may appeal to affluent owner-occupiers and collectors seeking rare, restored heritage homes within a city-fringe location. With few new landed developments entering the market, the combination of conservation architecture and modern residential use could create a highly differentiated product.

The development’s value creation potential will depend less on maximising density and more on delivering a high-quality restoration. The investment proposition is therefore centred on placemaking, heritage preservation and product differentiation. The site may also benefit from the wider transformation of the surrounding precinct, including continued public investment and the nearby River Peaks I and II public housing developments.

Click

here

for the full report:

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

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