The Business Times
business-time-50

Hard landing ahead for Singapore’s residential collective sale market

Changing market dynamics have made committing to a GLS site less risky for developers than bidding for an en bloc site

google-preferred-sourceAdd BT as a preferred source
Ry-Anne Lim

Ry-Anne Lim

Published Mon, May 20, 2024 · 04:39 PM
    • Pine Grove’s S$1.95 billion asking price translated to a land price of S$1,434 per square foot per plot ratio. 
    • Pine Grove’s S$1.95 billion asking price translated to a land price of S$1,434 per square foot per plot ratio.  PHOTO: BT FILE

    IT HAS been a tough time for Singapore’s residential en bloc sale market, with one unsuccessful attempt after another. Earlier this month, Pine Grove condominium found no takers for its S$1.95 billion asking price. It was the 99-year leasehold site’s fifth bid at a collective sale.

    Meanwhile, a flood of supply from the government’s land sales (GLS) programme will continue to divert developers’ attention and resources away from the private land sale market.

    And with property players turning more risk-averse, condo owners’ high asking prices will be even harder to match, market watchers told The Business Times.

    ResidentialCollective saleGovernment Land SalesSingapore residential propertyprivate home salesSpotlight

    TRENDING NOW

    Eugene Lai (left) says that he was sharing a view with Tan Chian Khong that the board needed a refresh and that it was not an explicit direction to resign.

    CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh

    Allowing some older malls to evolve organically could help Orchard Road retain diversity, says one observer.

    Room for more offices, homes and green spaces to make Orchard Road more vibrant

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    The amendments "aim to protect the competitive process of takeover and merger transactions", says SIC.

    MAS revises takeover and merger code to enhance competition and disclosures

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More