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News & Press Releases

Shophouse at 39 Tras Street for Sale at $16.8 million
Photo of 39 Tras Street (Source: Huttons Asia) A 3.5 storey conservation shophouse at 39 Tras Street has been launched for sale via an Expression of Interest (EOI) exercise. The guide price for the property at $16.8 million is competitively positioned in the shophouse market. It has a land area of approximately 1,464 sq ft and a floor area of approximately 4,359 sq ft. The luxuriously renovated shophouse is strategically located in the vibrant Tanjong Pagar precinct, within a 5 minutes’ walk to Tanjong Pagar MRT Station and Maxwell MRT Station, providing seamless connectivity. According to Jeremy Lim, Executive Group District Director at Huttons Asia, “This trophy asset is at one of the best locations among all conservation shophouses in Singapore. It is appealing to F&B operators due to the high human traffic from not only tourists but also locals who work in the CBD.” “The owner has spent more than $1.5 million on its renovation and it is fully occupied by a high-end Japanese omakase restaurant, Hiryu. The famous Japanese restaurant is popular among locals, high net worth individuals as well as celebrities and famous sportsmen all over the world. Recent transactions, such as the high-profile purchase of three adjoining 99-year leasehold shophouses along Duxton Road for an estimated $45 – $50 million reiterate the growing appetite for prime shophouse assets in Singapore”, said Jesmond Lee, Managing Director of Everton Estate Pte Ltd. Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia added that investors believe that shophouses have the ability to preserve wealth and are resilient due to its scarcity. The cuts in interest rates in the last quarter of 2024 will translate into lower borrowing costs and positive carry for some shophouses, increasing their appeal. The property is zoned as commercial by URA thus it is exempted from Additional Buyer’s Stamp Duty (ABSD) and foreigners are eligible to purchase. The expression of interest (EOI) exercise ends 26 March 2025 at 3pm. – END – For further information, please contact: Jeremy Lim, Associate Executive Group District Director, R017809A Tel: +65 8858 1212 | [email protected] Huttons Asia Pte Ltd (Licence No: L3008899K)
999-year Detached House for Sale at $11 million
Photo of 3 Sandown Place (Source: Huttons Asia) A two-storey 999-year leasehold detached house at 3 Sandown Place has been launched for sale via an Expression of Interest (EOI) exercise at a guide price of $11 million. The detached house has a land area of approximately 5,500 sq ft and a built-up area of approximately 8,600 sq ft, with a rare huge frontage of 17m wide. There are 5 huge ensuite bedrooms and 7 bathrooms, with an attic and a basement bar and entertainment area. 3 Sandown Place exudes a Balinese resort vibe, with lovely landscape, lush greenery, fish pond and jacuzzi, masterfully blending luxury with tropical charm, creating a tranquil retreat right in the heart of Serangoon Gardens Estate. It’s designed by the renowned Comprehensive Design Group (CDG) that designed famous buildings like the Singapore Science Centre and PUB Centre on Orchard Road. Strategically located in the popular Serangoon Gardens Estate, the detached house is within walking distance to popular food spots like Chomp Chomp Food Centre and retail centre like myvillage at Serangoon Garden with F&B outlets and FairPrice Finest. For families with school-going children, popular primary schools like CHIJ Our Lady of Good Counsel is within 1km while Rosyth School is within 2km. The estate offers a unique blend of privacy and convenience, with easy access to major expressways and public transport links and minutes’ walk away from the renowned Serangoon Gardens Country Club. According to Aloysius Lim, Senior District Director at Huttons Asia, Serangoon Gardens has always been a highly sought-after location for landed homes buyers. The guide price translates to approximately $2,000 psf on land, which is highly competitive against prices of recent project launches. “The landed homes market should continue to see brisk activities in 2025 as the cuts in interest allowed buyers to borrow more. Prices could end the year up between 3% and 5%,” added Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia. The expression of interest (EOI) exercise ends 26 March at 3pm. – END – For further information, please contact: Aloysius Lim, Associate Senior District Director, R056340H Tel: +65 9099 1560 | [email protected] Huttons Asia Pte Ltd (Licence No: L3008899K)
Huttons’ comments on Feb 2025 developers’ sales
.table-bordered tr:nth-child(even) { background-color: #ffffff; } .table-bordered tr:nth-child(odd) { background-color: #f9f9f9; } Launches and Sales Developers’ sales in Feb 2025 topped Jan’s sales by 45.4% to reach 1,575 units. Feb 2025’s sales was more than 10 times the sales of 153 units clocked a year ago. In the first two months of 2025, developers sold a total of 2,658 units. This is the highest sales for the first two months of the year since 2013. The exceptional sales in Feb 2025 were due to 2 major launches – ELTA and PARKTOWN Residence. 1,694 units were launched for sale, 89.1% more than Jan 2025 and 37.6 times more than Feb 2024. ELTA and PARKTOWN Residence attracted keen interest from more than 3,000 buyers, selling a total of 1,367 units in Feb 2025. ELTA sold 326 units in Feb 2025, continuing the strong sales for projects along Clementi Ave 1. ELTA is the last parcel of land for condo development along Clementi Ave 1. Buyers recognised the limited supply and were eager to buy a unit in ELTA for potential capital appreciation. PARKTOWN Residence sold 1,041 units in Feb 2025. No mega project has sold more than 1,000 units in its launch weekend since the launch of the 1,399-unit High Park Residences, which sold 1,100 units over three days in Jul 2015. It shows the popularity of fully integrated developments and buyers’ trust in the Tampines 5-year masterplan for 2025 to 2030. These two major launches made up 86.8% of total sales in Feb 2025. Purchases by Market Segments and Price Range Due to the launch of two major projects in the OCR, sales in the OCR made up 92.2% of total sales in Feb 2025 The RCR proportion was 6.2% while the CCR accounted for 1.6%. Top Projects by Sales in Feb 2025 Project Name Region Units Sold in the Month Median Price ($psf) Lowest Price ($psf) Highest Price ($psf) PARKTOWN RESIDENCE OCR 1041 2,363 2,146 2,589 ELTA OCR 326 2,538 2,200 2,881 PINETREE HILL RCR 22 2,613 2,140 2,715 HILLOCK GREEN OCR 18 2,098 1,924 2,479 NAVA GROVE RCR 18 2,574 2,372 2,696 HILLHAVEN OCR 13 2,216 1,966 2,376 THE CONTINUUM RCR 10 2,906 2,748 2,996 KASSIA OCR 9 2,065 1,907 2,147 TERRA HILL RCR 8 2,574 2,305 2,766 BAGNALL HAUS OCR 7 2,469 2,358 2,632 GRAND DUNMAN RCR 7 2,541 2,283 2,601 THE ORIE RCR 7 2,669 2,516 2,923 MEYER BLUE RCR 6 3,243 3,033 3,443 SCENECA RESIDENCE OCR 6 2,050 1,970 2,089 Source: URA, Huttons Data Analytics as of 17 Mar 2025 Singaporeans made up 92.4% of buyers in Feb 2025 while PRs accounted for 6.9%. The top two transactions by quantum were at 32 Gilstead which were bought by foreigners. Purchases by Residential Status and Price Range in Feb 2025 <$1.5 million $1.5 to <$2 million $2 to <$2.5 million $2.5 to <$5 million $5 to <$10 million $10 million and above Total Singaporeans 245 562 319 323 6 2 1,457 Permanent Residents 26 38 11 29 3 1 108 Foreigners – 2 1 4 2 2 11 Companies 0 0 Total 271 602 331 356 11 5 1,576 Source: URA, Huttons Data Analytics as of 17 Mar 2025 Singaporeans made up 92.4% of buyers in Feb 2025 while PRs accounted for 6.9%. The top two transactions by quantum were at 32 Gilstead which were bought by foreigners. Purchases by Residential Status and Price Range in Feb 2025 <$1.5 million $1.5 to <$2 million $2 to <$2.5 million $2.5 to <$5 million $5 to <$10 million $10 million and above Total Singaporeans 245 562 319 323 6 2 1,457 Permanent Residents 26 38 11 29 3 1 108 Foreigners – 2 1 4 2 2 11 Companies 0 0 Total 271 602 331 356 11 5 1,576 Source: URA, Huttons Data Analytics as of 17 Mar 2025 Purchases by Foreigners There were 11 purchases by foreigners in Feb 2025 out of which 6 bought properties in the CCR. Another 3 bought in the RCR and 2 foreigners acquired properties in the OCR. Proportion of Purchase by Foreigners Source: URA, Huttons Data Analytics as of 17 Mar 2025 Executive Condominiums 29 EC units were sold in Feb 2025 with Novo Place leading the pack with 17 sales. The median prices of ECs sold in Feb 2025 ranged from $1,324 to $1,676 psf. The widening gap in prices of new OCR private homes and new ECs means that the value proposition of ECs is even stronger. The prices of resale EC or mass market condo can be higher than a new EC. Thus, new EC will continue to draw demand. Outlook There are 3 launches in Mar 2025 – Aurea, Aurelle of Tampines (EC) and Lentor Central Residences. In total, developers have sold an estimated 1,150 units from these three launches. Excluding EC, 468 units were sold. Aurea, an iconic integrated mixed-use development along Nicoll Highway, sold 23 units on launch weekend which is similar to past launches in the CCR. Aurelle of Tampines (EC) sold 682 units or close to 90% of its units, supported by strong demand from first timers and HDB upgraders. Lentor Central Residences sold 445 units of 93.3% of its units, making it the best-selling private residential project by percentage terms in 2025 to date. Huttons Data Analytics estimate developer’s sales excluding ECs in 1Q 2025 to exceed 3,200 units. This is close to 4Q 2024’s 3,420 units and is the highest 1Q sales since 2021. The strong demand in the past few months is supported by fundamentals such as a sharp rise in wealth and cuts in interest rate. 5 projects – 21 Anderson, Arina East Residences, Bloomsbury Residences, One Marina Gardens and W Residences Singapore – Marina View are expected to book sales in Apr 2025. Developers are estimated to sell between 7,500 and 8,500 units in 2025. Barring unforeseen circumstances, prices in the property market are estimated to grow between 4% and 7% in 2025. Upcoming Projects in 2Q to 4Q 2025 No. Project Name Developer Location District Tenure Est Units Est Launch Period 1 21 Anderson Anderson International Properties Pte Ltd/Raffles Legend Properties Pte Ltd Anderson Road 10 FH 18 Mar/Apr 2025 2 Bloomsbury Residences Qingjian Realty and Forsea Residence Media Circle 5 99 358 Mar/Apr 2025 3 One Marina Gardens Kingsford Huray Development, Obsidian Development and Polarix Cultural & Science Park Investment Marina Gardens Lane TBC 99 937 Mar/Apr 2025 4 Arina East Residences ZACD Group Tanjong Rhu Road 15 FH 107 Apr 2025 5 W Residences Singapore – Marina View IOI Properties Marina View 1 99 683 Apr 2025 6 Upperhouse @ Orchard Boulevard UOL Group and Singapore Land Group Orchard Boulevard 9 99 301 May 2025 7 Artisan 8 Apex Asia Development Sin Ming Road 20 FH 34 May/Jun 2025 8 Lyndenwoods CapitaLand Development Singapore Science Park Drive 5 99 345 2Q 2025 9 Upper Thomson Road (Parcel B) GuocoLand (Singapore) Pte. Ltd. and Intrepid Investments Pte. Ltd. Upper Thomson Road 26 99 941 2Q 2025 10 Zion Road (Parcel A) CDL-MFA Vega Property Pte. Ltd. and CDL-MFA Altair Property Pte. Ltd. Zion Road 3 99 706 2Q 2025 11 Otto Place (EC) Hoi Hup Realty and Sunway Developments Plantation Close 24 99 600 Jun/Jul 2025 12 The Roberston Opus River Valley Tower Pte Ltd Robertson Walk 9 999 348 Jul 2025 13 Canberra Crescent Peak Nature Pte Ltd and Huatland Development Pte. Ltd. Canberra Crescent 27 99 376 3Q 2025 14 The Sen SL Capital (8) Pte Ltd De Souza Avenue 21 99 347 3Q 2025 15 Holland Drive Holly Development Pte. Ltd. Holland Drive 10 99 666 3Q 2025 16 RiverGreen Winchamp Investment Pte. Ltd. River Valley Green 9 99 525 3Q 2025 17 Margaret Drive Intrepid Investments Pte. Ltd., Hong Realty (Private) Limited and GuocoLand (Singapore) Pte. Ltd. Margaret Drive 3 99 462 4Q 2025 18 Zion Road (Parcel B) Valerian Residential Pte. Ltd. Zion Road 3 99 610 4Q 2025 Total 8,364 * in alphabetical order followed by chronological order Source: URA, Huttons Data Analytics as of 17 Mar 2025
Huttons’ comments on GLS site at Bayshore Road
The Bayshore Road site attracted 8 bidders and a top bid of $1,388 psf ppr from Sing-Haiyi Garnet Pte Ltd. The level of interest from developers is the highest since Jan 2022. The site at Jalan Tembusu attracted 8 bidders as well. This is, an indication that developers may have held back from other GLS sites to participate in this tender. The strong sales for the past few months have also increased the need to replenish their land bank. Sites along East Coast usually command a premium due to the rarity of sea facing plots. The gap between the top 2 bidders is close. This reflects developers’ keen interest to stake an early advantage in the new Bayshore estate. The last GLS site sold along East Coast was Seaside Residences for $858 psf ppr in Jan 2016. The bid price of $1,388 psf ppr is close to the last bidded price for a land parcel in the CCR. This shows a blurring distinction between the different market segments and reflects more on the individual site characteristics and developers’ keenness to pay more for superior attributes. This site is one of the highly anticipated sites on the GLS programme. It is the first site for private homes in the new Bayshore estate. It is probably the best site in the Bayshore precinct as it offers a sea view and doorstep access to Bayshore MRT station. With Bayshore MRT station at the doorstep, residents can get to the Downtown in around 20 minutes. Temasek Primary School is within 1km to the site. In the future, there will be a mixed commercial and residential development above Bedok South MRT station which is one stop away.
Bukit Timah condo Hillcrest Arcadia put up for en bloc sale at S$920 million
No land betterment charge is payable for the HIllcrest Arcadia site due to the property’s high development baseline. PHOTO: HUTTONS ASIA Bukit Timah condominium Hillcrest Arcadia is going on the market at a guide price of S$920 million, in a collective sale that will release a sprawling 4-hectare District 11 site for redevelopment. The 99-year leasehold property sits on 442,162 square feet (sq ft) of land currently housing 272 residential units and one retail unit. At S$920 million, Hillcrest Arcadia is being marketed at about S$1,519 per square foot per plot ratio (psf ppr), taking into account 10 per cent bonus gross floor area in the rebuild and a premium of about S$262 million to upgrade the title to a fresh 99-year lease, according to marketing agent Huttons. The development has about 50 years left on its lease which dates back to 1975. Owners of the ageing 99-year development stand to receive between S$945,000 and over S$5.7 million if the collective sale is successful. Since 2024, eight units at Hillcrest Arcadia changed hands on the market. The most recent unit sold was a 699.7 sq ft unit transacted at S$850,000 or S$1,215 psf. The Arcadia Road plot, close to the Watten Estate neighbourhood in the prime Bukit Timah area, is zoned for residential use with a gross plot ratio of 1.6. Up to 773 new homes can be built on the site, Huttons estimated. No land betterment charge is payable due to the site’s approved use and intensity. Terence Lian, head of investment sales at Huttons Asia, said: “Bukit Timah is a district rich in heritage … we believe the luxury residential market here holds immense potential.” “Hillcrest Arcadia enjoys a prime location surrounded by a predominantly low-rise landed housing estate on one side, and the Central Catchment Nature Reserve on the other. The future development will offer residents unobstructed views of lush greenery.” Nearby Watten Estate Condominium, on a site about half the size of Hillcrest Arcadia, was sold in 2021 to the UOL group for S$550.8 million. UOL and Singapore Land are building their 180-unit Watten House on the freehold site. The luxury project, first marketed in November 2023 – some seven months after fresh market cooling measures kicked in – sold 102 units at launch priced on average at S$3,230 psf. UOL, SingLand and CapitaLand Development also picked up the 5 ha Thomson View site in November 2024 via a collective sale. The deal, which was the most recent successful residential en bloc sale of a similar scale, was done at S$810 million, about 12 per cent under the owners’ original reserve price. In 2018, the owners of Hillcrest Arcadia formed a collective sales committee but did not achieve the 80 per cent consensus required to proceed with a sale. Hazel Tan, Hillcrest Arcadia’s collective sales committee chairwoman, said: “The owners have embarked on a collective sale now as we believe this is the ideal timing with interest rates coming down and with property market sentiment continuing to be bullish. “In addition, we are confident that the recent extension of the Additional Buyer’s Stamp Duty remission deadline for developers rebuilding large en bloc sites such as ours, will further encourage developers’ keen interest in our development.” From March 6, complex projects including large en bloc redevelopments that will have at least 700 units and at least 1.5 times the number of homes of the existing development will qualify for the extension of the sales deadline. The tender for Hillcrest Arcadia will be launched on Thursday (Apr 3), and closes on May 22.
Huttons’ comments on the GLS site at Lentor Gardens
The Lentor Gardens site attracted 2 bidders and a top bid of $920 psf ppr from Kingsford Huray Development Pte Ltd. The number of bids is similar to previous GLS tenders in Lentor but is in stark contrast to the level of interest from developers in the earlier Bayshore Road GLS tender. This is likely down to the fact that there are more plum sites like Chencharu Close, Hougang Central and Telok Blangah Road and developers are keeping dry powder to participate in these tenders. While this is the seventh parcel for sale in the Lentor precinct, only an estimated 135 units out of 2,954 units remained unsold as of 3 Apr 2025. Going by the fast pace of sales in recent OCR project launches especially in Lentor, demand for attractively priced private homes remained high. This site presents a relatively low level of risk to developers.
Huttons’ comments on the GLS sites at Lakeside Drive, Dunearn Road and Woodlands Drive 17 (EC)
The Lakeside Drive site is one of the last two plots next to Lakeside MRT station and is close to the Jurong Lake District. The key strengths of the Lakeside Drive parcel are doorstep access to Lakeside MRT station and within 1km to the popular Rulang Primary School. The last plot sold around Lakeside MRT station was Lake Grande in 2015. Hence potential demand could have built up in the last 10 years. In the vicinity of the land parcel, there are more than 2,500 flats which have already fulfilled their minimum occupation period and are eligible to upgrade. It may attract up to 3 bidders and a top bid between $900 and $1,000 psf ppr. The Dunearn Road site is the first site to be offered in the new Turf City housing estate under the Stables Commune neighbourhood. It is close to numerous top schools and a short walk to the Sixth Avenue MRT station. The last plot sold around Sixth Avenue MRT station was Fourth Avenue Residences in 2017. After the harsh 60% ABSD on foreigners, Singaporeans made up almost 80% of buyers of CCR homes. Hence the price points and design have to cater towards the local market. The site could see 1 to 2 bidders and a top bid between $1,250 and $1,350 psf ppr. The Woodlands Drive 17 site is the first EC parcel to be made available for sale in Woodlands South since 2013. The last EC parcel sold was built into Bellewoods. The site is within a 5 minutes’ walk to Woodlands South MRT station, one train stop to Woodlands Regional Centre and 2 stops to the RTS link. There may be 3 primary schools within a 1km radius. There are an estimated 6,500 HDB flats in Woodlands which were completed from 2016 to 2018 and this may form a potential pool of upgrading demand for EC. The Woodlands Regional Centre is likely to be the biggest transformation in the north of Singapore. Different parts of the plans for Woodlands are taking shape from the completion of Woodlands Health Campus in 2024, the finalisation of the Johor-Singapore SEZ by end-2024 and the completion of the RTS in 2027. The Singapore Sports School is slated to move to Kallang but no firm date has been set. Huttons estimate 4 to 6 bidders for the site and a top bid between $700 and $750 psf ppr.
Huttons’ comments on Mar 2025 developers’ sales
Launches and Sales Developers sold 729 units in Mar 2025, 54.4% lower month-on-month but almost similar to a year ago. The lower sales in Mar 2025 were due to the absence of a mega launch. A mega project, PARKTOWN Residence was launched for sale in Feb 2025. The number of units launched for sale in Mar 2025 was 555, 67.2% lower than Feb 2025 and 33.3% lower than Mar 2024. Two major private residential projects were launched for sale in Mar 2025 – Aurea and Lentor Central Residences. Aurea, an iconic integrated mixed-use development along Nicoll Highway, sold 24 units of the 78 units launched which is similar to past launches in the CCR. Lentor Central Residences sold 460 units of 96.4% of its units, making it the best-selling private residential project by percentage terms in 2025 to date. Huttons Data Analytics estimate developer’s sales excluding ECs in 1Q 2025 to be around 3,400 units. This is the highest 1Q sales since 2021 and close to 4Q 2024’s 3,420 units. These two major launches made up around two thirds of total sales in Mar 2025. Purchases by Market Segments and Price Range The search for attractively priced homes led to buyers snapping up 460 units in Lentor Central Residences in the OCR. The median price was $2,213 psf which is very competitive against earlier launched projects in the area. More than 60% of the units sold in Lentor Central Residences are priced at $2 million and below, a sweet spot for many buyers be it first-timer or HDB upgraders. The OCR made up more than 80% of the sales in Mar 2025. The RCR proportion was 11.9% while the CCR accounted for 6.3%. Top Projects by Sales in Mar 2025 Project Name Region Units Sold in the Month Median Price ($psf) Lowest Price ($psf) Highest Price ($psf) LENTOR CENTRAL RESIDENCES OCR 460 2,213 1,982 2,586 PINETREE HILL RCR 27 2,581 2,392 2,724 AUREA CCR 24 2,924 2,736 3,389 HILLOCK GREEN OCR 21 2,181 1,974 2,550 PARKTOWN RESIDENCE OCR 20 2,444 2,274 2,605 SORA OCR 19 2,320 1,981 2,504 THE CONTINUUM RCR 12 2,980 2,684 3,028 HILLHAVEN OCR 11 2,275 2,039 2,423 THE ORIE RCR 10 2,613 2,453 2,822 MEYER BLUE RCR 9 3,084 3,018 3,195 THE LAKEGARDEN RESIDENCES OCR 9 2,093 1,948 2,174 Source: URA, Huttons Data Analytics as of 15 Apr 2025 Singaporeans made up 89.6% of buyers in Mar 2025 while PRs accounted for 9.1%. There were two transactions worth $10 million and above in Mar 2025. The $13.0 million unit at 32 Gilstead was bought by a permanent resident while a Singaporean paid $10.0 million for a terrace house in Mount Rosie. Purchases by Residential Status and Price Range in Mar 2025 <$1.5 million $1.5 to <$2 million $2 to <$2.5 million $2.5 to <$5 million $5 to <$10 million $10 million and above Total Singaporeans 86 239 125 198 4 1 653 Permanent Residents 11 23 10 15 6 1 66 Foreigners 0 2 2 5 1 0 10 Companies 0 0 0 0 0 0 0 Total 97 264 137 218 11 2 729 Source: URA, Huttons Data Analytics as of 15 Apr 2025 Source: URA, Huttons Data Analytics as of 15 Apr 2025 Purchases by Foreigners There were 10 purchases by foreigners in Mar 2025 out of which 6 bought properties in the OCR. The RCR and CCR saw 2 purchases each, respectively. Proportion of Purchase by Foreigners Source: URA, Huttons Data Analytics as of 15 Apr 2025 Executive Condominiums 781 EC units were sold in Mar 2025. The first EC launch in 2025, Aurelle of Tampines (EC) sold 705 units or 92.8% of its units at a median price of $1,769 psf, supported by strong demand from first timers and HDB upgraders. All the units set aside for second-timers were fully taken up within a few hours. The median prices of ECs sold in Mar 2025 ranged from $1,325 to $1,879 psf. ECs offer eligible buyers a very attractive proposition complete with condo facilities but at a lower price. A resale EC was sold for $2,001 psf in Mar 2025, netting the owner more than $1.7 million in gross profits. This has further boosted the appeal of ECs. Outlook There are 2 launches in Apr 2025 – Bloomsbury Residences and One Marina Gardens. A total of 446 units have been sold in these two projects in the opening weekend. It is a good result in spite of the turmoil in the equity markets. The first EC in 2025, Aurelle of Tampines is fully sold after 1 month of sales, making it the best-selling EC launch currently. This is the second EC project to sell out during the second balloting after Copen Grand in Nov 2022. Sales in Apr 2025 should be between 500 and 600 units. There is no delay in the project launches for the rest of the year. Developers are proceeding with their project launches once all necessary approvals are obtained. Huttons Data Analytics estimate another 17 projects including 1 EC with a total of 7,470 units will be launch for sale from May to 4Q 2025. This is slightly more than the 7,051 units in the previous estimates. As with past major events such as cooling measures, financial crises, there will be some temporary pullback in the market. It will be business as usual after some months. The UHNWIs may be reassessing their options in the wake of upheaval caused by the tariffs. Safe havens such as Singapore may be top of their minds for its stability despite the hefty 60% ABSD. They may apply for a PR before buying a home in Singapore. Construction costs in Singapore are forecasted to increase in 2025 and 2026 due to major infrastructure projects like Changi Airport Terminal 5 and expansion of Marina Bay Integrated Resort driving demand. This means future selling prices will continue to trend upwards. Developers are estimated to sell between 7,500 and 8,500 units in 2025. Prices on the other hand are unlikely to be affected and forecasted to grow between 4% and 7% in 2025. Upcoming Projects in 2Q to 4Q 2025 No. Project Name Developer Location District Tenure Est Units Est Launch Period 1 Arina East Residences ZACD Group Tanjong Rhu Road 15 FH 107 Apr/May 2025 2 W Residences Singapore – Marina View IOI Properties Marina View 1 99 683 May/Jun 2025 3 Artisan 8 Apex Asia Development Sin Ming Road 20 FH 34 Jun 2025 4 Lyndenwoods CapitaLand Development Singapore Science Park Drive 5 99 345 Jun 2025 5 Otto Place (EC) Hoi Hup Realty and Sunway Developments Plantation Close 24 99 600 Jun/Jul 2025 6 Upperhouse @ Orchard Boulevard UOL Group and Singapore Land Group Orchard Boulevard 9 99 301 Jun/Jul 2025 7 Promenade Peak Valerian Residential Pte. Ltd. Zion Road 3 99 596 Jul 2025 8 The Roberston Opus River Valley Tower Pte Ltd Robertson Walk 9 999 348 Jul 2025 9 Holland Drive Holly Development Pte. Ltd. Holland Drive 10 99 666 Aug 2025 10 RiverGreen Winchamp Investment Pte. Ltd. River Valley Green 9 99 525 Aug 2025 11 The Sen SL Capital (8) Pte Ltd De Souza Avenue 21 99 347 Aug 2025 12 Springleaf Residence GuocoLand (Singapore) Pte. Ltd. and Intrepid Investments Pte. Ltd. Upper Thomson Road 26 99 941 Aug/Sep 2025 13 Canberra Crescent Peak Nature Pte Ltd and Huatland Development Pte. Ltd. Canberra Crescent 27 99 376 3Q 2025 14 Sophia Road Sin Thai Hin Development Sophia Road 9 FH 30 3Q 2025 15 Margaret Drive Intrepid Investments Pte. Ltd., Hong Realty (Private) Limited and GuocoLand (Singapore) Pte. Ltd. Margaret Drive 3 99 462 Oct 2025 16 Zion Road (Parcel A) CDL-MFA Vega Property Pte. Ltd. and CDL-MFA Altair Property Pte. Ltd. Zion Road 3 99 706 Oct 2025 17 Faber Walk GuocoLand (Singapore) Pte. Ltd., TID Residential Pte. Ltd. and Intrepid Investments Pte. Ltd. Faber Walk 5 99 403 4Q 2025 Total 7,470 * in alphabetical order followed by chronological order Source: URA, Huttons Data Analytics as of 15 Apr 2025

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