1H 2025 GLS: Steady Supply of Homes to Pace Private Housing Demand

SINGAPORE, 06 December 2024 – The 1H 2025 Government Land Sales (GLS) program saw an increase in the overall private home supply to 8,505 units, up from 8,140 units in 2H 2024. A total of ten sites were placed on the Confirmed List, comprising six private residential sites, one Commercial & Residential site, and three EC sites.

Collectively, the 1H 2025 GLS Confirmed List includes 5,030 private homes, comprising 980 Executive Condominium (EC) units, while the Reserve List will offer an additional 3,475 residential units. Overall, the private home supply slated for 1H 2025 fell marginally by 0.4% compared to 2H 2024 but remains 7.7% lower than the supply in 1H 2024.

“We believe the steady supply of private homes may help to address the recent pick-up in new home demand, giving homebuyers the overview of a strong pipeline of upcoming launches. Separately, the 1H 2025 GLS sites on the Confirmed List presents aplenty of land-banking opportunities for developers in established HDB estates that tend to attract strong interest from HDB upgraders.”

Chart 1: Residential GLS Sites (No. of Units)

Source: URA, ERA Research and Market Intelligence

Where are the promising sites?

We believe the Telok Blangah and Dunearn Road sites will present first-mover opportunities for developers of the upcoming new residential precincts.

The Dunearn Road site will be the first private residential development launched following the announcement of Bukit Timah Turf City’s redevelopment plans earlier this year. The private residential site is nestled among the first upcoming HDB flats in Bukit Timah, and we expect the future residents to benefit from ample amenities as the area undergoes transformation.

Kickstarting the Greater Southern Waterfront transformation is the launch of this Telok Blangah Road site, where the former Keppel Golf Course used to be. Like Bukit Timah Turf City, this site will be an exciting prospect due to its central location, as well as being new estates, offering first movers’ advantage.

Within walking distance of Telok Blangah MRT, residents would be able to conveniently access work nodes at one-north, Buona Vista and the National University of Singapore. HarbourFront station, one stop away will also offer an interchange option into the CBD in under 10 minutes. Not to mention, this is the largest site in this GLS launch, offering a large, 740 units in high rise towers with a 4.7 plot ratio.

Next would be the sites located just adjacent to MRT station which includes Hougang Central and Lakeside Drive. The Hougang Central is likely to be developed as an integrated development located just next to the Hougang MRT station, which will also be servicing the Cross Island line when it is completed by 2030. This is also the first launch in Hougang since 2011.

Similarly, the Lakeside Drive site is adjacent to the Lakeside MRT station, making it a choice residential location in the heart of the Jurong Lake District development.

The GLS site at Dorset Road is within the city centre, and can yield around 430 units. The area largely see boutique developments and could see the pent-up demand for larger residential projects. Furthermore, it is within walking distance of Farrer Park MRT, as well as within 1km of Farrer Park Primary School, we should see a fairly competitive bidding process for this site.

Lastly, the three EC sites at Senja Close, Woodlands Drive 17 and Sembawang Road will also be on the radar for developers. Both Senja Close and Woodlands Drive 17 were on the 2H 2024 Reserve List and have been shifted to the 1H 2025 Confirmed list.

Read the full piece here: https://www.era.com.sg/1h-2025-gls-sites/ 

For media enquiries, please contact:

Yue Kai Xin, Press Relations, ERA Singapore

Email: [email protected]