The Lentor Gardens site is the seventh plot in the Lentor precinct to be launched for sale since 2021.
But the pace of releasing land in Lentor precinct has slowed. There was 1 parcel awarded in 2021, 3 parcels awarded in 2022 and 2 parcels awarded in 2023. This also meant that the pace of project launches has tapered off. There will be 1 upcoming launch in Lentor Central in 2025. This Lentor Gardens project will likely be launched in 2026.
Including this site, there will be an estimated 3,454 units in Lentor. 2,477 units across 5 projects have been launched for sale and only 352 units remained unsold as of 17 Oct 2024. This shows buyers’ receptiveness towards living in the Lentor private residential enclave and should ease concerns of a supply overhang in Lentor.
The property market appears to be improving with the economy picking up and interest rate gradually easing. Sales take-up for the past few launches have been healthy. Developers may need to replenish their land bank earlier.
Nevertheless developers will be mindful of bidding high in view of continued uncertainties over construction costs and the harmonisation of GFA.
Huttons estimate 1 to 3 bidders for the site and a top bid between $900 and $1,000 psf ppr.
The River Valley Green (Parcel B) is attractively located and will have direct access to Great World MRT station.
Great World City mall, New Bahru and the Zion Riverside food centre are among the varied amenities nearby. The popular River Valley Primary School is across the site.
However, there will be an estimated 1,120 units from River Valley (Parcel A) and Zion Road (Parcel A) which may be launched for sale in 2025. If River Valley Green (Parcel C) is moved to 1H 2025 Confirmed List, this area will have almost 2,200 units for sale.
Developers will likely be cautious in their bidding notwithstanding the improved market sentiments and easing in interest rates.
Huttons estimate 1 to 3 bidders for the site and a top bid between $1,200 and $1,300 psf ppr.
The Woodlands Drive 17 (EC) site may be triggered for sale.
It is the first EC site to be made available for application 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.
If triggered for sale, Huttons estimate 4 to 6 bidders for the site and a top bid between $650 and $700 psf ppr.
The Marina Gardens Lane site is unlikely to be triggered for sale. There are other attractive sites like Bayshore Road, Chencharu Close, Chuan Grove and Holland Link on the 2H 2024 GLS Confirmed List.
