Real estate investment sales rose 22% quarter on quarter to nearly $8 billion in 3Q2021 in Singapore real estate market and this is mainly as a result of two mixed-used sites – Jalan Anak Bukit and Marina View sale via the Government Land Sales (GLS) programme with each value at over $1 billion. This translates to an overall investment sales volume of $18.8 billion in the first third quarters of 2021 which makes up of nearly 80% of the sales registered in 2020. Out of this overall investment, residential investment sales made up about 47.5% of the total investment volume in 3Q2021, at around $3.8 billion, up by 28% from the $3.0 billion transacted in 2Q2021.
Altogether, four GLS sites were sold in 3Q2021 namely Lentor Central with $1,204 psf per plot ratio (psf ppr), Slim Barrack Rise Parcel A with $1,246 psf ppr, Slim Barrack Rise Parcel B with $1,210 psf ppr and Tampines Street 62 executive condominium site with $659 psf ppr.
All these sites had attracted intense competition and were keenly contested with the numbers of bidders ranging between nine and 10. This intense competition indicates the healthy public land tender bids and reflected developers’ hunger for land in an upbeat market with prices are rising, and unsold inventory depleting at a fast rate.
The Arden by Qingjin, The Arden location in D23, The Arden price – to sell
CDL to develop Piccadilly Grand, Piccadilly Grand location in cityfringe
Sceneca Residence in Tanah Merah by MCC, Sceneca Residence location mins to MRT
