Newsletter FEB 2025
By Kelvin Sin | Livefree.sg | 27 Feb 2025
1. Market Outlook
2. New Projects
3. Government Land Sales / Enbloc
4. HDB & BTO
1.1.1 HDB Resale Prices Expected to rise by 4% to 6% in 2025
HDB resale flat prices in Singapore are projected to climb by 4% to 6% in 2025. This anticipated rise is primarily due to a limited supply of flats reaching their Minimum Occupation Period (MOP), coupled with robust demand from buyers. Key Factors Influencing the Price Increase.. Limited Supply of MOP Flats: Fewer HDB flats are completing their MOP, leading to a tighter resale market. Strong Buyer Demand: Continued interest from buyers keeps competition high, contributing to upward pressure on prices. Economic Conditions: A stable economy and favorable employment rates enhance purchasing power, enabling more individuals to enter the property market. Government Policies: Initiatives aimed at supporting homeownership may also play a role in influencing resale prices. What This Means for Buyers and Sellers? For Buyers: Anticipate potential price increases and plan your purchases accordingly. Early entry into the market might be beneficial to avoid higher costs later. For Sellers: The projected price rise could mean better returns on your property investment. However, it’s essential to stay informed about market trends to make timely decisions. The HDB resale market in Singapore is poised for a 4% to 6% price increase in 2025, driven by limited supply and strong demand. Both buyers and sellers should stay informed and consider these projections when making property decisions.
1.1.2 50,000 HDB flats to launch from 2025 to 2027
In a significant move to meet the housing needs of Singaporeans, the government has announced plans to roll out more than 50,000 new HDB flats over the next three years. This initiative aims to provide ample housing options for first-time buyers, young families, and those looking to upgrade or downsize their homes. Increased Flat Supply: The government is set to launch over 50,000 new HDB flats between 2025 and 2027, contributing to a total of 130,000 flats planned for this period. Enhanced Support for First-Time Buyers: Recognizing the challenges faced by first-time homebuyers, the government has increased housing grants to make homeownership more attainable. Priority for Young Families: Additional ballot chances will be given to young married couples under 40 and families with children during the Build-To-Order (BTO) flat application process, facilitating quicker access to housing. Focus on Prime Locations: A portion of the new flats will be situated in prime areas, offering residents convenient access to amenities and transportation hubs. For First-Time Buyers: The increased supply and enhanced grants present a favorable opportunity to secure a home. It’s advisable to stay updated on upcoming BTO launches and understand the application process to maximize these benefits. For Current Homeowners: Those considering upgrading or relocating can look forward to a wider selection of new flats in various locations, potentially aligning better with their lifestyle needs.
2.1 Lentor Central Residences to Launch with units Starting at $975,000
Lentor Central Residences, is set to preview on February 21, 2025. Developed by a consortium led by Hong Leong Holdings, this project offers a range of unit types to cater to various needs. Situated in the Lentor Central area, the development provides residents with convenient access to nearby amenities and transportation options. The project comprises two towers with a total of 477 residential units. Residents can enjoy a variety of facilities, including a clubhouse, multiple swimming pools, and landscaped gardens. 1 Bedroom Units: Starting from $975,000, with sizes beginning at 463 sqft. 2 Bedroom Units: Priced from $1.388 million, with sizes starting at 678 sqft. For Potential Buyers Affordability: With competitive starting prices, Lentor Central Residences presents an attractive option for both first-time buyers and investors. Modern Living: The development promises a blend of comfort and convenience, with thoughtfully designed units and a host of amenities to enhance the living experience.
2.2 Aurelle of Tampines EC to Preview on 22 Feb 2025
Sim Lian Group is set to unveil its latest executive condominium, Aurelle of Tampines, with previews starting on February 22, 2025. This development offers a range of unit types designed to cater to diverse needs. Located in the vibrant Tampines North area, Aurelle of Tampines is just a 5-minute walk to the upcoming Tampines North Integrated Hub. This hub will feature the Tampines North MRT Station, Bus Interchange, PARKTOWN Mall, Community Club, and a Hawker Centre, providing residents with unparalleled convenience. The development boasts 70 condominium facilities, including seven pools, offering a resort-like living experience. Residents can enjoy various recreational and relaxation options within the premises. 3 Bedroom Units: Starting from $1.417 million, with sizes beginning at 840 sqft. 4 Bedroom Units starting from $1.689 million, with sizes starting at 1,023 sq ft. Aurelle of Tampines presents an excellent opportunity to own a modern home in a well-connected neighborhood. The proximity to essential amenities and transportation hubs makes daily commuting and lifestyle needs more convenient. Given its strategic location and comprehensive facilities, this development is poised to attract strong interest, potentially leading to favorable appreciation in property value over time.
2.3 Parktown Residence 87% Sold at $2,360 psf average
ParkTown Residence, an integrated development in Tampines North, saw impressive sales, with 1,041 units sold at an average price of $2,360 per square foot (psf). This strong demand highlights the appeal of the project, jointly developed by UOL Group and CapitaLand. The average selling price stood at $2,360 psf, positioning ParkTown Residence as a competitive option in the current market. As the first integrated development in Tampines North, ParkTown Residence offers residents seamless connectivity and a range of amenities, enhancing its attractiveness. The successful launch reflects confidence in the project’s value, which could bode well for future appreciation.
2.4 Elta 65% Sold at $2,537 psf average
Elta, a new condominium jointly developed by MCL Land and CSC Land Group, has successfully sold 65% of its units during its launch phase, with an average selling price of $2,537 per square foot (psf). This impressive uptake underscores the strong demand for quality residential projects in the Clementi area. Out of 501 units available, approximately 326 were sold during the initial launch period, reflecting significant buyer interest. The average price achieved was $2,537 psf, positioning Elta competitively within the current market landscape. Singaporeans accounted for 90% of the purchasers, while the remaining 10% were permanent residents, indicating strong local interest in the development. The successful launch and strong local interest may signal promising prospects for future appreciation in property value.
3.1 GuoccoLand wins Bid for River Valley Green (Parcel B) at $1,420 psf ppr
GuocoLand has successfully secured the River Valley Green (Parcel B) site with a top bid of $627.84 million, translating to $1,420 per square foot per plot ratio (psf ppr). This prime parcel, adjacent to Great World MRT Station and near Great World City mall, is poised for a significant residential development. The tender attracted 5 bidders, with GuocoLand emerging as the highest bidder, reflecting strong interest in this prime location. Situated next to Great World MRT Station on the Thomson-East Coast Line, the site offers excellent connectivity. Proximity to Great World City mall provides future residents with a plethora of shopping and dining options. The 126,290 sq ft site can yield approximately 580 units, including 220 long-stay serviced apartments, catering to diverse residential needs. The upcoming development is expected to offer premium residential units in a sought-after location, making it an attractive option for both end-users and investors.
3.2 River Valley Apartments Sold for $56 million via Collective Sale
River Valley Apartments has been sold en bloc for $56 million, marking the first residential collective sale of 2025. This sale is particularly noteworthy as it sets a precedent for the year’s property transactions. Each owner is expected to receive between $2 million to $2.6 million from the sale. Situated along River Valley Road in the prime District 10, the apartments offer a coveted address. The development holds a freehold status, enhancing its appeal to potential buyers. The prime location and freehold tenure make the site a promising candidate for redevelopment, potentially leading to new residential offerings in the area. This successful transaction may signal a resurgence of en bloc sales in Singapore’s property market.
4.1 Feb 2025 BTO: Prime flats in Tanjong Rhu & First Project in Woodlands North Coast
In February 2025, the Housing & Development Board (HDB) introduced 5,032 Build-To-Order (BTO) flats across five projects, alongside 5,590 Sale of Balance Flats (SBF) units throughout Singapore. This launch includes the first BTO project in the Woodlands North Coast precinct and a Prime project in Tanjong Rhu. Tanjong Rhu Parc Front: Located in the Kallang/Whampoa area, this Prime BTO Project offers 812 units. 2-room flexi: Starting from $211,000, 3-room: From $399,000, 4-room: From $548,000. Stirling Horizon in Queenstown: Comprising 1,126 units, this is the first Plus BTO project in Queenstown. 2-room flexi: Starting from $224,000, 3-room: From $408,000, 4-room: From $554,000. Woodlands North Verge: Standard Project: This 1,563-unit development is the first BTO project in the new Woodlands North Coast precinct. 2-room flexi: Starting from $140,000, 3- to 5-room flats: Up to $486,000. Shorter waiting time Chencharu Vines and Chencharu Green in Yishun: Standard Projects: Offering 848 and 683 units respectively. 2-room flexi: Starting from $108,000, 3- to 5-room flats: Up to $447,000. Shorter waiting time.