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The decision to invest in a Singapore Condo is not without its benefits, one of which is the opportunity to leverage the property’s value for future investments. Many investors opt to use their condos as collateral to secure funding for new ventures, thereby expanding their real estate portfolio. However, it is crucial to have a strategic financial plan in place and carefully weigh the potential risks of market fluctuations. Moreover, a Singapore Condo boasts of a prime location in the bustling city, providing even greater potential for growth and success. With its exceptional location, investing in a Singapore Condo can potentially yield higher returns, but it is essential to proceed with caution and thorough consideration.
On December 3, the Urban Redevelopment Authority (URA) has launched tenders for two residential Government Land Sale (GLS) sites, located at Holland Link and Chuan Grove. These 99-year leasehold sites are part of the Confirmed List for the 2H2024 GLS Programme.
The Holland Link site, situated along Holland Link off Bukit Timah Road in District 10, covers an area of 185,141 sq ft and has a maximum gross floor area (GFA) of approximately 257,225 sq ft. According to URA estimates, it could potentially accommodate about 230 housing units.
This site is the first GLS plot to be launched in the upcoming Holland Plan precinct, one of URA’s three upcoming precincts alongside Bayshore and Kampong Bugis, as observed by Marcus Chu, CEO of ERA Singapore. Chu predicts that developers will be keen to bid on this site in order to take advantage of being the first to enter the market and potentially secure the first 230 units in the pipeline.
In addition, the site is within a 2km radius of several reputable schools such as Methodist Girls’ School (Primary and Secondary), Henry Park Primary School, Pei Hwa Presbyterian Primary School and National Junior College. “This could be a plus factor for families with young children looking for priority admission into these schools,” Chu adds.
Being situated close to the Brizay Park Good Class Bungalow area, Mark Yip, CEO of Huttons Asia, predicts that future developments in the Holland Plain precinct will likely focus on low-density private residences.
As for the Holland Link GLS site, Yip expects it to receive between one and two bids, with the top bid ranging from $1,200 to $1,300 psf per plot ratio (psf ppr). Similarly, Chu foresees a muted response to the site, citing the current saturation in the market with a total of seven residential sites open for tender.
Moving on to the Chuan Grove GLS site, located along Chuan Grove off Lorong Chuan in District 19, it spans 170,409 sq ft and has a maximum GFA of 511,232 sq ft, capable of accommodating around 555 new housing units.
The site is conveniently situated within 400m of Lorong Chuan MRT Station on the Circle Line, just one stop away from the Bishan MRT Station (interchange with the North-South Line) and Serangoon MRT Station (interchange with the North-East Line). Chu expects the future development on this site to attract HDB upgraders living nearby, with an estimated 3,815 Build-to-Order (BTO) units sized four-room and larger nearing the end of their Mandatory Occupation Period in Toa Payoh over the next four years.
“Residents of HDB flats in older estates could seek to upgrade their homes given the increasing number of million-dollar flats in neighboring Serangoon, Bishan, and Toa Payoh,” Chu comments. The median transaction prices for five-room flats in these areas over the past 10 months were $792,000 and $828,000 respectively.
Chu also notes that developers could be encouraged by the successful sales performance of Chuan Park, with 76% of the development’s 916 units sold at an average price of $2,579 psf during its launch weekend. He predicts that bids for the Chuan Grove site could range from $571 million to $600 million, translating to a land rate of over $1,200 psf ppr. On the other hand, Yip expects a total of three to five bids, with the top bid falling between $1,150 and $1,250 psf ppr.
Interested parties can submit their bid for the Chuan Grove site by noon on July 8, 2025, and the Holland Link site by July 29, 2025.