Singapore Property News

Market

Developers' bullish land bids raise concerns over new condo demand

• Analysts flag risks to new condo demand from job market weakness
• Higher home loan rates and cooling measures cited as headwinds
• Developers seen paying aggressive prices in government land tenders

Policy

Proposed lower en-bloc consent thresholds for older condos

• Aug 4 Land Titles (Strata) Amendment Bill proposes new en-bloc rules
• 70% consent threshold proposed for 40-59-year-old developments

New Launch

Q4 new launches to test homebuyer demand amid selective market

• Launch pipeline thinner as buyers turn more selective
• Elevated prices weighing on homebuying demand

Policy

State properties in Toa Payoh, Hougang offered for eldercare use

• Two former state properties up for rent for eldercare, up to 9 years
• SLA aims to expand nursing home capacity to 31,000 beds by 2030

Commercial

Freehold Strata Shop At Nomu Listed For $6M With Signage Rights

• Freehold shop at Nomu on sale for $6 million with signage rights
• Conservation shophouse on North Canal Road listed at $16.8 million
• City-centre freehold commercial supply growing scarce

Market

APAC rental housing to draw US$33B over 5 years, Singapore included

• Cushman & Wakefield projects US$33B APAC Living sector investment over 5 years
• Demand driven by student housing across Japan, Australia, Singapore, Hong Kong, South Korea

Private

Analysis: What drove returns in top two-bedroom condos

• Size, tenure and neighbourhood timing shaped two-bedder returns most
• Freehold status and MRT proximity mattered less than assumed

Private

Five 4-Bedroom City-Fringe Condos Listed Under $2.5M

• Five 4-bedroom condos priced below $2.5 million
• Located in Boon Keng, Bishan, Marine Terrace, Ang Mo Kio

Market

Beijing tax crackdown weighs on wealthy Chinese buyers in Singapore property

• Chinese buyers with assets held in trusts feeling pressure from tax scrutiny
• Agents report no broad retreat from Singapore market

New Launch

Frasers to redevelop Yishun 10 into 110-unit mixed-use project

• Frasers Property adding ~110 homes plus retail podium at Yishun Central
• First condo launch in Yishun Central in over a decade
• Redevelopment of the iconic 1992 Yishun 10 mall

New Launch

Terra Hill Offers Discounts Up To $1.63M On Remaining Units

• Freehold Pasir Panjang condo Terra Hill discounting unsold units up to $1.63M
• Remaining stock includes ground-floor and high-ceiling penthouse units
• Project heading toward completion in 1Q2027

Policy

Adele Tan named URA CEO; Yvonne Lim appointed chief planner

• Adele Tan, 52, becomes URA chief executive
• Yvonne Lim appointed chief planner
• Lim Eng Hwee steps down; changes have taken effect

Private

Eu Yan Sang family sells Bishopsgate GCB for S$40 million

Richard Eu and siblings sold Bishopsgate bungalow for S$40 million

Policy

Punggol East riverside plots earmarked for 8,000+ new homes

• 25 hectares along Punggol East riverside set aside for housing
• Could yield over 8,000 new homes
• Some tenants' leases not renewed after year-end, some extensions granted

Commercial

Four HDB commercial units in Toa Payoh, Jurong East up for sale at $38 mil

• Portfolio of four HDB commercial properties listed at $38 million
• Includes 1,851 sq ft coffeeshop unit at Toa Payoh Central
• Includes 1,195 sq ft retail unit at Jurong Gateway

Private

Terra Hill unit sells for $7.28m; Gentle Road bungalow fetches $20.38m

• Terra Hill condo unit sold for $7.28 million
• Detached house on Gentle Road fetched $20.38 million

New Launch

Belgravia Ace offers freehold strata-landed homes

• Freehold strata-landed development by Tong Eng Group
• Combines landed living with condo-style lifestyle facilities

New Launch

Sim Lian launches Amberwood at Holland, returns to CCR after 17 years

• Amberwood at Holland has 212 units across 11 blocks
• Development spans four- to six-storeys in Core Central Region
• Sim Lian's first CCR project in 17 years

Private

Private property done deals: contracts dated Aug 18-25

Roundup of Singapore private residential transactions for the period

Commercial

SMU Victoria Street office retrofit targets 20% energy savings

• $4M retrofit achieved provisional SLE60 under BCA Green Mark 7
• Hybrid cooling and daylight sensors, payback within four years

Private

Couple sells Pine Grove condo for $2.05M, buys $5.08M Sui Generis unit

• Sold Pine Grove condo for $2.05 million
• Bought $5.08 million unit at Sui Generis
• Chose location for proximity to Singapore Chinese Girls' School

Private

Laguna Green leads Bedok 2-bedder returns with 41.6% ROI

• Laguna Green: 41.64% ROI, $443,429 average profit over past decade
• Top Bedok 2-bedroom performer despite higher launch price

HDB

Record 201 Million-Dollar HDB Flats Sold In August

• 201 million-dollar HDB resale flats sold in August, a record
• Follows removal of 15-month wait-out period for downsizers
• Private property owners downsizing into larger flats

Commercial

Two state sites in Kallang, Tampines up for tender for community uses

• Jalan Benaan Kapal site in Kallang spans 120,252 sq ft
• Tampines Road site spans 19,742 sq ft
• Both offered by SLA for sports and community-focused uses

Private

High Point condo relaunched for collective sale at $580 mil

• 59-unit development at 30 Mount Elizabeth back on market
• Guide price $580 million, sixth en bloc attempt
• Site measures approximately 47,607 sq ft

Private

24 luxury properties from $3b laundering case up for auction

• 24 luxury homes, 2 office spaces to be auctioned
• 42nd-floor penthouse over 6,700 sq ft guided at $25 million
• Assets seized from $3b money laundering case

HDB

Larger homes gaining appeal among multigenerational families in Tampines

• Demand rising for bigger homes in Tampines area
• Tampines North MRT station slated for completion in 2030

New Launch

Terra Hill sets new price low of $2,093 psf in developer sale

• Freehold condo Terra Hill records developer-sale low of $2,093 psf
• Only private non-landed project to set a new price low

HDB

HDB income ceiling changes and wait-out period removal spark price questions

• New HDB income ceilings introduced
• Wait-out period for downgraders removed

Private

Goldenhill Park three-bedder resold for $2.55 mil profit

• Three-bedder at freehold Goldenhill Park Condominium in Serangoon
• Seller netted $2.55 million gain on resale

Private

Duplex penthouse at Mon Jervois listed for auction at $4.83 mil

• Duplex penthouse in District 10 condo Mon Jervois up for auction
• Guide price of $4.83 million
• Development comprises five low-rise blocks

Private

Sale of Singapore land tied to Malaysian royal faces S$2b tax bill

• Tax owed on Singapore land sale estimated at over S$2 billion
• Land linked to son of Malaysian king

New Launch

New Virtual Inspection Lets Condo Buyers Get Keys Up To 2 Months Earlier

• Virtual inspection process brings forward TOP approval by up to two months
• Buyers could save around $7,800 in rent
• Pilot projects include Grand Dunman

Policy

Virtual site inspections could cut TOP approval time by up to two months

• New virtual inspection process may shorten TOP approval by up to two months
• Teams can submit 360-degree virtual scans for compliance checks

Commercial

JustCo opens 24th Singapore centre at Raffles City Tower

• New co-working centre occupies 9th and 10th floors, about 16,000 sq ft
• Located at Raffles City Tower in City Hall precinct

New Launch

UOL-led group wins Bedok GLS site for record $1.42 billion

• New Upper Changi Road site sold for $1.42 billion, record OCR residential psf ppr
• UOL-led consortium beat three rival bids
• Site can yield around 1,010 homes near Bedok MRT

Private

10 units at Martin Modern, Wallich Residence up for auction

• Six Martin Modern (River Valley) units priced from $2,874 psf
• Four Wallich Residence (Tanjong Pagar) units from $3,347 psf
• Guide prices range $2.238 mil to $6.78 mil

Policy

Singapore adds $112 mil funding and new Green Mark to transform built environment

• Additional $112 million funding allocated for built environment sector
• Latest Green Mark version launched to raise sustainability standards

Commercial

HarbourFront Centre ceases operations ahead of redevelopment

HarbourFront Centre ceased operations in late July

Commercial

North Canal Road shophouse, Handy Road strata unit up for sale

• North Canal Road 3-storey commercial shophouse for sale at $16.8 mil
• Handy Road strata commercial unit at Nomu for sale at $6 mil
• Marketed by Knight Frank Singapore