Sold! Singapore residential land prices soar, setting new GLS records

The 99-year leasehold residential government land sale (GLS) site at Lentor Gardens closed today with only one bid from GuocoLand and Intrepid Investments (a subsidiary of Hong Leong Group). The joint venture partners submitted a bid of $486.8 million, which translates to a land rate of $985 psf per plot ratio (psf ppr).

According to Mark Yip, CEO of Huttons Asia, the bid of $958 psf ppr is the lowest for a land parcel in the Lentor precinct and it is also the first residential GLS tender to receive only one bid since the tender of the Silat Avenue GLS site in 2018. The site was launched as the 1,074 unit Avenue South Residences in September 2019 and is now fully sold.

The last two residential GLS sites to be sold in Lentor were in Lentor Central and Lentor Hill …

Grade A office rents in Singapore’s CBD rose in the first quarter of 2023, according to data by real estate consultancy JLL. Despite this, the growth was slower than that seen in the previous quarter, as uncertainty surrounding the global economic outlook continues to hamper demand for office space.

Large space users are mostly hesitant when it comes to expansion or relocation plans, while the majority of leasing activity has been driven by small to medium-sized space occupiers with immediate requirements. Examples of such occupiers are German insurer Munich Re, who took two floors at 18 Cross Street for their new office, and Corney & Barrow, who relocated to Hub Synergy Point.

Despite the currently cautious attitude, tight supply of Grade A office space saw some occupiers seize the chance to upgrade to better office spaces at new developments. Prominent examples include Guoco Midtown, which received its Temporary Occupation Permit …

Bukit Timah is a beautiful and vibrant district located in the central region of Singapore. It is named after the highest hill in the country, which is also located within the district. Bukit Timah is a popular residential area for both locals and expats due to its convenient location, greenery, and excellent schools. Here are some of the highlights of Bukit Timah in 1000 words:

Geography and History:

Bukit Timah is located in the central region of Singapore, bordered by Bukit Batok to the west, Clementi to the south, and Novena to the east. It covers an area of approximately 17.53 square kilometers and is home to a population of around 80,000 people.

The district is named after Bukit Timah Hill, which stands at 163.63 meters and is the highest natural point in Singapore. The hill is located within the Bukit Timah Nature Reserve, which covers an area of 163 …

The Downtown Line is a rapid transit line in Singapore that spans across 42.2 kilometers and has 34 stations. It is one of the six MRT lines in Singapore, operated by the Land Transport Authority (LTA) and is colored blue on the rail map. The Downtown Line serves the central and eastern parts of Singapore, connecting residents and commuters to various commercial, residential, and industrial areas.

The Downtown Line started operation on 22 December 2013, with the opening of the first phase of the line. This phase consisted of six stations, including Bugis, Promenade, and Chinatown. The second phase, which opened on 27 December 2015, added 12 more stations, extending the line to the north and northeast of Singapore. The third and final phase, which opened on 21 October 2017, added another 16 stations to the line, including the highly anticipated Downtown Line 3 Extension, which connects the eastern part …

Bukit Panjang Integrated Transport Hub (ITH) is a state-of-the-art transportation center located in Bukit Panjang, Singapore. The hub provides seamless connectivity between bus and rail services, making it easier for commuters to travel to different parts of the island.

The Bukit Panjang ITH was opened in 2017 and is the first integrated transport hub in Singapore’s heartlands. It is conveniently located next to the Bukit Panjang MRT station, making it easily accessible to commuters from all parts of the island.

The hub is a joint development between the Land Transport Authority (LTA) and the People’s Association (PA). It was designed with the aim of providing a convenient and comfortable transportation experience to commuters while also promoting community activities.

The Bukit Panjang ITH has several features that make it stand out from other transport hubs in Singapore. One of the most notable features is the integration of bus and rail services. …

The West Side of Singapore is a great place to stay compared to other areas in the country. Located in the western part of the country, this area is known for its close proximity to the city centre and its excellent transport links. The area is home to a variety of different neighbourhoods, each with its own unique attractions and amenities.

The West Side of Singapore is a great place to stay for those who want to be close to the centre of the city. The area is well-connected to the city centre via public transport, with several MRT lines connecting the area to key areas of the city. There are also several bus services that run in the area, making it a great choice for those who want to travel around the city easily.

The West Side of Singapore is also home to a variety of different neighbourhoods, each …

A shophouse at 52 Boat Quay has been sold for $37 million, resulting in profits of $16 million for the seller. Renovated in 2015, the property has a total built-up area of 6,446 sq ft. Occupying the top two floors is the Italian restaurant Braci, while the ground floor is an Izakaya bar and the second and fourth floors contain corporate office tenants. Yap Hui Yee, executive director of investment sales and capital markets at Savills Singapore, noted that there was considerable interest from investors and the transaction revealed a strong demand for high-quality commercial shophouses in prime locations. The rarity of a riverfront-facing property being available for sale made it and attractive opportunity for the buyer.

The highly sought-after shophouse at 52 Boat Quay in Singapore has been sold for $37 million, with the seller making a gain of $16 million. The property boasts a 1,119 sq ft site …