21 Nov 2024
Faber Walk GLS Land Bid: GuocoLand Tops Tender at $900 psf ppr
Property Insight

The Government Land Sale (GLS) site at Faber Walk, designated for residential (non-landed) development, was awarded to GuocoLand (Singapore) Pte. Ltd., TID Residential Pte. Ltd., and Intrepid Investments Pte. Ltd. at $349.9 million, translating to $900 per square foot per plot ratio (psf ppr). This bid exceeded the second-highest by 8.9%, reflecting the developers' competitive positioning. 

The Faber Walk site has several advantages. The planned transformation of Clementi MRT station into a Cross Island Line (CRL) interchange will enhance accessibility. The upcoming completion of the CRL is expected to improve connectivity to key areas in Singapore, boosting the site's appeal among homebuyers and investors. The lack of new residential launches in the area, as seen with the sold-out projects Clavon and Ki Residences at Brookvale, presents an opportunity to meet market demand.

Resale activity in the Clementi planning area has risen significantly, with non-landed and landed property transactions increasing by 20.6% and 14.3%, respectively, from January to October 2024 compared to the same period in 2023. This trend suggests a growing pool of upgraders who may be drawn to future developments at Faber Walk. The site's proximity to commercial hubs like the International Business Park and JTC Summit makes it attractive to expatriates and professionals in high-tech and industrial sectors.

Additionally, Faber Walk benefits from its location near reputable schools, notably Nan Hua Primary School, which has seen high demand in recent years. Families prioritizing proximity to such institutions may find this site appealing, further driving demand for its residential units.

The Jurong Lake District's transformation into a vibrant commercial and residential hub is likely to further increase interest in western Singapore. Improved infrastructure and business developments in the region will enhance convenience and connectivity, appealing to residents seeking work-life balance near major employment centers.

The site is projected to launch at competitive prices of $2,100 to $2,300 psf. Although future competition may arise from developments like The Elta at Clementi Avenue 1, the staggered launch timelines are expected to reduce direct competition.

The Faber Walk site is well-positioned to cater to a diverse demographic, including young families, professionals, and upgraders, offering a balance of exclusivity and value. Its strategic location, combined with improving infrastructure and market demand, presents an opportunity for developers to deliver a compelling residential development.

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
27 Oct 2025
3Q2025 HDB Resale Market Trends: Steady Growth and Sustained Demand

The HDB resale market maintained steady momentum in 3Q2025, reflecting sustained buyer confidence amid an evolving public housing landscape. While the pace of growth moderated compared to 2024, transaction volumes and prices continued to show resilience, supported by stable demand for well-located and newer flats that have recently reached their Minimum Occupation Period (MOP).

Overall, HDB resale prices increased by 2.9% in the first nine months of 2025, moderating from the stronger 6.9% growth recorded during the same period in 2024. The moderation reflects a gradual normalisation in market conditions as more Build-To-Order (BTO) and Sale of Balance Flats (SBF) supply enters the pipeline. The ramp-up of new flats, particularly those with shorter waiting times, provided buyers with more options and helped to ease the pace of resale price growth.

Resale transactions reached about 7,500 cases in 3Q2025, slightly higher than the previous quarter. Demand remained healthy in both mature and non-mature towns. Mature estates such as Ang Mo Kio, Toa Payoh, and Queenstown continued to attract steady demand due to their accessibility and established amenities, while non-mature towns such as Yishun, Woodlands, and Sengkang drew buyers looking for affordability and newer flats with remaining lease value.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight
27 Oct 2025
Developers Regain Confidence as Private Home Sales Surge in 3Q2025

Singapore’s private residential market recorded a strong rebound in the third quarter of 2025, reflecting renewed confidence and improved buyer sentiment following the Federal Reserve’s rate cut in September. Developers launched a total of 4,746 new private homes, marking the highest quarterly launch volume since 2Q2013. The surge in supply was driven by several major projects across all market segments, including Skye at Holland, Penrith, and Faber Residence, which collectively contributed to the robust sales momentum observed during the quarter.

Sales performance was equally upbeat, with 3,320 units (excluding ECs) transacted — a sharp increase from 1,212 units sold in the previous quarter. The healthy take-up rate demonstrates buyers’ growing readiness to re-enter the market, buoyed by an improved macroeconomic outlook, greater project diversity, and stabilising interest rates. Many of these launches stemmed from Government Land Sales (GLS) sites, underlining the government’s continued effort to ensure a sustainable supply pipeline to meet housing needs.

The primary market’s resilience was complemented by sustained activity in the resale segment, which benefited from a tightening pool of completed units and healthy owner-occupier demand. Despite some buyers adopting a more selective approach, resale prices held firm, underscoring the market’s underlying stability.

As Singapore continues to advance its housing pipeline through GLS and urban renewal initiatives under the upcoming Draft Master Plan 2025, the residential market is well-positioned to maintain stability and gradual growth. Buyer prudence is still encouraged, but confidence is expected to strengthen in the months ahead as both affordability and supply visibility improve.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight
23 Oct 2025
Wee Hur and GSC Holdings Top Bid $613.9 Million for Upper Thomson Road GLS Site (Parcel A)

The top land bid for the Upper Thomson Road (Parcel A) site was submitted by Wee Hur Property Pte Ltd and GSC Holdings Pte Ltd at $613.9 million ($1,062 psf ppr). Their offer edged out the second-highest bid by a narrow 2.1%, underscoring the consortium’s strong conviction and competitive stance in securing this well-located site along the Thomson corridor. For Wee Hur, this marks a timely move to replenish its residential land bank, following its last notable condominium launch, Bartley Vue, a GLS site awarded in 2020.

The site had previously closed in June 2024 without any bids, likely due to the inclusion of a mandatory serviced apartment component in a location where demand for such units was largely untested. This reflected developers’ cautious stance toward projects in emerging residential areas with unconventional use requirements.

Responding to this, the Urban Redevelopment Authority (URA) introduced refinements in the 1H2025 GLS Programme to make the parcel more appealing. Serviced apartments were no longer a compulsory component, but subject to approval, giving developers more flexibility in conceptualizing their projects. This adjustment demonstrated URA’s responsiveness to market feedback and its commitment to aligning land parcels with prevailing demand dynamics.

These changes yielded positive results. The relaunch attracted five bids, a significant improvement over the earlier tender and even surpassing participation for the neighbouring Parcel B, which received only one bid. The renewed interest was also likely spurred by the successful launch of Springleaf Residence on the adjoining Parcel B site. Developed by GuocoLand and Intrepid Investments, Springleaf Residence achieved an impressive take-up rate exceeding 92% during its launch weekend, reinforcing developer confidence in the area’s growth potential.

The resurgence of interest signals growing recognition of the Springleaf Precinct as an emerging residential enclave with strong connectivity via the Thomson-East Coast Line. Supported by proximity to Springleaf MRT and the corridor’s lush greenery, the area is evolving into a sought-after address for both homeowners and investors.

With more than 95% of units sold, Springleaf Residence is expected to be fully sold before the Parcel A project launches. The limited unsold inventory and positive buyer sentiment will likely support new demand spillover from purchasers who missed earlier opportunities.

Overall, the tender results mark a turning point for Upper Thomson Road, reinforcing confidence in the precinct’s transformation into a vibrant and well-connected residential enclave in the northern region.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

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