It’s that time of the year again: Chinese New Year, where relatives suddenly grow an interest in your personal and love life. And for attached twenty-somethings like us, it’s also the time of the year when they suddenly become real estate analysts: especially regarding your Build- to-Order choices.

You start to hear takes like:

“Eh, last year the Holland V one like not bad eh!” or “February got one Queenstown one, near MRT and school, why not apply that one?”

Which are valid takes – but you see, the thing is both of us decided to apply for a standard flat instead. Knowing well and fully the outstanding benefits of the other Plus and Prime flats, we decided it was in our best interest to choose a Standard flat.

The two writers today, Egan Mah and Ethan Hariyono, applied for the projects in towns that we grew up in – Pasir Ris and Serangoon/Sengkang respectively. These are satellite housing towns and are therefore Standard projects, as compared to the centrally located, city fringe towns that often fall under the Prime or Plus category – and here’s why.

Standard, Plus, Prime: What’s the Difference?

Before we dive into the details, here’s a quick overview of how the current BTO system works.

From October 2024, HDB Build-to-Order (BTO) flats were reclassified into three categories – Standard, Plus and Prime flats. Plus and Prime flats are those located in ‘choicier’ (e.g. good connectivity, proximity to amenities, and the city centre. Some may come with unique features, such as waterfront living, and ‘choiciest’ locations (e.g. centrally located, well-served by comprehensive amenities and have excellent transport connectivity) respectively.

However, these two flat classes differ from Standard flats, which hold restrictions that we are most familiar with (when it comes to BTO flats). Plus and Prime models come with more stringent resale conditions such as a 10-year Minimum Occupation Period (MOP) rather than the conventional five years, a subsidy recovery upon resale, and owners are not allowed to rent out the whole flat.

 

Uncertainty of what can happen in 10 years

A 10-year MOP means that you are ‘stuck’ living in the same place for 10 years. While this may bring about conveniences as it could be near your current workplace or family now, but these could change in future. Spatial, household, and lifestyle needs could change too.

Egan: While you do not have to sell after the MOP, that option and flexibility to do so is worth having. 10 years is a long time and many things could change. You may have additional household members or want to live nearer your future workplace. These are factors that may be beyond your control. I may be working in the east now but possibly in the west in future so there may be some inconveniences.

Ethan: At my current age (25), I do not currently have plans to have children in the next five-plus years. Therefore, distance to a school, or being in the most optimal central location is not my priority. I would rather be able to save more money in the short term and use it for other purposes (travel, renovation, etc.) while still having the flexibility of relocating or upgrading in five years if my lifestyle choices happen to change. This is why I felt like I should go with a Standard flat.

 

Not just about location (centrally located)

Egan: They say for real estate, location is key. However, HDB has defined choice locations as those being centrally-located (i.e. near the city centre/CBD). Especially today, where most if not all HDB towns are self-sufficient towns. The internal public transport networks such as feeder bus and the Light Transit Rail (LRT) will get residents around and to the MRT station. Most needs can be met by the amenities the town has. Thus, there is no need to live near the CBD if you do not mind the daily commute to work. Even more so when Singapore have been decentralising workplaces. To me, familiarity to the place I grew up in and living near my parents is more important.

Ethan: There is an element of familiarity and comfort when choosing to stay in an environment you grew up in, and it makes the whole prospect of dropping half a million dollars into your first home a lot less daunting.

Exclusive: 5-room size and shorter wait times

Ethan: As with Egan, I applied for a 5-room flat, which was only offered as part of the Standard housing model. 5-room flats are getting increasingly rarer, which would come to play if I ever choose to sell the house. Furthermore, there is little to complain about when it comes to having extra space to live (other than the extra cleaning required). It grants a degree of flexibility when it comes to designing your house, regardless of your needs. It is a more comfortable space for a growing family, and it also offers more room for your hobbies or other lifestyle needs – like if you enjoy hosting people.

Egan: Another thing to take note is also the project-specific traits. For both projects that I applied for, the waiting times were less than three years (possibly why they were so popular as well).

 

Affordability

Standard flats also come with a lower price tag. While we both applied for a 5-room flat, we did compare prices of a 4-room Standard and a Prime flat.

Table 1: Price of BTO flats launched in October 2024

Source: HDB

Of the BTO projects that we both considered, the price range of those in Plus and Prime areas are considerably more expensive. It would have made more financial sense to apply for a larger standard flat rather than a smaller ‘Plus’ or ‘Prime’ flat.

 

“The Next Step”

Egan: Of course, many Singaporeans aspire to own and live in a private property, me included. This would mean embarking on this path of ‘Asset Progression’, where we upgrade to the next higher tier of property when we have the chance to. For a young couple, it would mean selling your BTO flat upon reaching the Minimum Occupation Period, when flats are still new. Cashing out on the profits made, we would then go on to buy a condominium.

Ethan: Hence, HDB introduced Prime and Plus flats, that come with more stringent resale conditions that eventually caps the prices of HDBs in future. This is done to ensure that HDBs continue to be affordable public housing. The conditions include a 10-year minimum occupation period, rather than standard flat’s 5-years. Resale buyers of these flats also have a household income ceiling of $14,000.

Egan: The opportunity cost of the five additional years could make it more difficult for potential upgraders. Firstly, the private property prices may become out of reach. Secondly, upon fulfilment of the MOP, most buyers would be in their mid-forties. (Considering a couple at 28 successfully getting a BTO flat, 4 years of construction and 10 years of living there). Furthermore, there are subsidy claw back on the future selling price of Prime and Plus flats (currently up to 9% and 6% respectively)

Conclusion

Ultimately, property – especially your first home is an important and crucial milestone in one’s life. Each flat type comes with their own clear advantages and differences. Given that HDB flats require you to occupy them for at least 5 years, it is in your best interest to select a flat that is best suited for your lifestyle, and in a location that you are okay with.

At the end of the day, given the heavily subsidised nature of HDB flats, the majority of BTO homes have been profitable in recent years.

However, as twenty-somethings and analysts working in the real estate industry, we have purposefully opted for a Standard flat, given the flexibility it offers.

Need professional advice to help you weight the pros and cons between a BTO and resale flat? Reach out to an ERA Trusted Adviser today!

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval. 

ERA, Where Kindness Creates Ripples

Life for individuals living with disabilities often comes with immense challenges, but even the smallest act of kindness can make a world of difference. For J.A. Goh, kindness wasn’t a gesture—it was a mission. “If I don’t help him, who will?” he said when asked why he chose to go above and beyond for Jimmy, a disabled individual in need.

This extraordinary story began with a call from Eve, J.A.’s ex-colleague from over 20 years ago, who now resides in the United States. She reached out in desperation, seeking help for her brother Jimmy, who was being evicted from his rented room due to his disability.

A Realtor’s Determination to Make a Difference
Although helping someone secure a room rental wasn’t J.A.’s usual market, he didn’t hesitate. Meeting Jimmy, he quickly realized the urgency of the situation: Jimmy had less than two months to vacate, and his disability had made him unwelcome in his current rental. J.A. evaluated his options and advised Jimmy to explore HDB’s rental scheme, which was far more affordable and would shield him from the stigma often encountered in the private rental market.

But J.A. didn’t stop at advice. He dove into the details of HDB’s rental application process, researching every requirement and walking Jimmy through each step. When they hit roadblocks, J.A. accompanied Jimmy to meet the Member of Parliament to seek support. The MP wrote a letter advocating for Jimmy’s case, but as the eviction date loomed, the process required further follow-ups to ensure progress with HDB.

Determined not to give up, J.A. persisted. He wrote to HDB, followed up with the MP, and even accompanied Jimmy to an HDB interview, finally securing a rental flat just days before Jimmy’s eviction date.

Jimmy and J.A. sharing a smile after securing a home for Jimmy

Kindness in Action
J.A.’s commitment extended beyond securing the rental. Knowing Jimmy’s physical limitations, J.A. personally accompanied him to view the property and interacted with the existing tenants to ensure a smooth transition. To make the new space liveable, J.A. helped Jimmy purchase essentials like a mattress and curtains for privacy, finding creative solutions to overcome restrictions on drilling.

Throughout the journey, J.A. kept Eve updated, earning her profound gratitude. “Living in the US, I wasn’t able to be there to assist my brother, but J.A. graciously stepped in and went above and beyond to make sure he was well taken care of,” she wrote in a heartfelt email. She commended J.A.’s selflessness, saying, “We need more people like J.A. in the real estate industry.”

WhatsApp message of gratitude from Eve to JA

“Kindness Doesn’t Need Recognition”
When asked why he went to such lengths, J.A. simply replied, “Jimmy’s siblings are overseas. He’s all alone in Singapore. If I don’t help him, who will?” He added that his efforts were never about receiving anything in return. “Whether or not someone writes a recommendation, it doesn’t matter. I help because I can.”

Yet, J.A. acknowledges that acts of kindness can often come full circle. He recalls a client he helped 15 years ago who has since referred 13 deals to him. “I don’t expect it, but when it happens, it’s always a pleasant surprise,” he shared.

A Culture of Giving at ERA
ERA is proud to be the first real estate agency to launch an ESG initiative, focusing on creating meaningful social impact and uplifting communities in need. From supporting individuals with disabilities to fostering inclusivity, ERA is committed to making a difference in society.

J.A.’s story reflects a larger culture of generosity at ERA. Last year, when teammates faced personal crises, a call for donations was met with tens of thousands of dollars contributed by agents. The ESG by ERA Committee has consistently sought ways to give back through meaningful actions. ERA has partnered with the Singapore Association for the Deaf (SADeaf) in various initiatives, such as charity events and fundraisers, to support the deaf and hard-of-hearing community. These efforts reflect ERA’s dedication to creating an inclusive and compassionate society. Looking ahead, ERA is excited to continue these meaningful collaborations to make a positive impact on lives.

For J.A., ERA’s environment of support and kindness aligns with his personal values. “As long as it’s within my means, I’ll always find ways to help,” he says.

The Ripple Effect of Kindness
J.A. Goh’s story is a testament to the power of compassion and community. It reminds us that even in the competitive world of real estate, there’s room for humanity. His unwavering dedication to helping Jimmy wasn’t about closing a deal—it was about making a difference.

Singapore’s real estate landscape continues to grapple with a myriad of challenges. These issues, ranging from affordability concerns to older housing with decaying leases, underscore the urgent need for policies that align with the aspirations of Singaporeans while ensuring sustainable growth in the property market. As we approach Budget 2025, ERA wish to share our wish-list of changes to tackle these challenges ahead.

Today’s market is reflective of genuine buyers’ demand. The continued residential property price growth is indicative of deeper concerns around the real estate market. The 2024 ERA’s “My Dream Home Survey” revealed that while 79% of respondents are satisfied with their current housing arrangements, many still aspire to upgrade but remain concerned about affordability.

A basic roof-over-our head is already a “given”. Many Singaporeans have strong aspirations to upgrade to private homes. Meanwhile, rising private home prices (pushed up by increasing land and development costs) are fuelling concerns around future upgrading possibilities. Singaporeans also desire the flexibility to stay in their preferred locations, without being priced out to less ideal locations.

In the HDB resale market, Singaporeans are concerned about decaying leases and as such, most buyers would naturally prefer flats with longer remaining leases. Consequentially, with demand skewed towards “younger” or newer HDB resale. This may have continued to push up resale HDB prices despite pushed up year after year; despite the government increasing the BTO supply. Indirectly this may also have led to the increasing number of million-dollar flat transactions.

It has been a challenging year for residential enbloc and the new home segment. The bumper supply of GLS sites since 2023 offered developers ample supply of residential sites and enbloc sites have become comparatively less attractive due to the complexities and time taken.

With the higher cost of replacement homes, further aggravated for foreign owners who are subject to the 60% ABSD on their home purchase, enbloc sellers demand for increasingly higher prices during the enbloc attempts. However, this hampers the success of enbloc sales and over time, hampers the rejuvenation of the housing landscape as residential projects continue to age.

ERA’s wishlist for Budget 2025

ABSD Regime: Differentiate between Single Property Upgrader and Multi-Property Investor

Our ABSD regime is mature and operationally well-run. It may be an opportune time to look at how we can differentiate between a single property upgrader and multi-property investors. Can we allow homebuyers upgrading or downgrading with no intention of holding onto two properties to not pay ABSD?
The existing ABSD remission applies only to married couples and seniors; and one needs to pay ABSD upfront then apply for refund later.
So, for a Singaporean family that genuinely want to upgrade from their HDB flat to a $2 million private residential property (and eventually just own that one private residential property), the current ABSD regime requires them to sell their HDB flat before buying the private residential property or pay $400,000 ABSD first should they decide to buy first then sell.
This is totally impractical and unrealistic; and many Singaporeans do see this as the government stifling their upgrading aspirations. They are genuine upgraders and not multi-property investors.
We hope the government would consider to relook at the ABSD mechanics to enable more Singaporeans to fulfil their upgrading dreams.

ABSD for Foreigners:

Reduction of the ABSD for foreign buyers to between 30% and 60%.
The market feels the current 60% ABSD is too high and if the government feels that 30% is too low, perhaps we can find a middle ground.
This will help to support the foreigner population that have decided to reside and invest in Singapore. Those who are unable to secure PR status will need to pay 60% ABSD if they wish to purchase a home, making it very challenging for them to stay in Singapore long-term.

Executive Condominiums:

Relook at the EC model as it is becoming unsustainable with rising prices.

Based on the maximum household income ceiling of $16,000, EC buyers can only borrow a maximum of around $1 million from the banks. With new EC prices ranging $1.3m to $1.8m, most new EC buyers have to come up with significant cash to fund their purchase. This may lead to unnecessary actions like getting the parents to chip in or taking additional unsecured loans.
As any further adjustments in the eligibility criteria like raising the income ceiling may just be kicking the can down the road (new EC prices continuing to rise due to rising land and development costs); it may be worthwhile to consider scrapping or tweaking the EC scheme altogether.

Enbloc Rules:

Allow older 99-yrs development with less than 60 years lease remaining to lower the mandatory consensus for collective sales, from 80% to 70%.
This will encourage rejuvenation of older strata developments which may be increasingly becoming an eyesore or even have safety risks as the physical condition of the development deteriorate over time.

HDB Leases:

Allow older HDB flats to upgrade their leases by 20 or 30 years.

This would provide buyers with more resale options and address concern around decaying leases. With more resale options that have longer leases available, this may slow down the pace of price growth in the long term.

Whilst we understand the government’s concern over rising home prices, it is important to note that the rising prices were cost driven and not fuelled by speculation or excessive buying by foreigners. We hope our government will be sensitive and supportive of the Singaporean aspirations to upgrade and consider to relook at removing unnecessary road-blocks.

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval.

ERA, Where Knowledge Sparks Transformations

A Passion for Learning That Shapes Success

Alethea Seet’s journey into real estate didn’t start with ambition—it started with curiosity. What began as a desire to sell her BTO soon evolved into a career fueled by the pursuit of knowledge. “I initially took the RES course for personal reasons,” she shares. “But the deeper I went, the more I saw how much potential real estate held. I realized knowledge wasn’t just helpful—it was essential.”

Her hunger for learning became the cornerstone of her career. In 2024 alone, Alethea attended over 60 training sessions at ERA. “I believe that staying informed is non-negotiable in this industry. The market evolves constantly, and so should we,” she explains.

Recognizing that growth required an environment rich in resources, Alethea chose to join ERA. “What drew me in was ERA’s commitment to dynamic learning. The training here is forward-thinking, practical, and it evolves with the market,” she adds.

The Leadership Development Programme is one of the many trainings Alethea has attended since joining ERA.

Discovering the Power of IRM

One of the pivotal moments in Alethea’s career was joining the Investor Realtor Masterclass (IRM). The IRM, designed to break down complex asset progression strategies, offered her a new lens through which to view the market. “It wasn’t just theory,” she says. “IRM dives deep into structuring portfolios, decoupling, and how to approach different situations strategically.”

IRM not only honed her technical skills but connected her with a like-minded community. “Being part of IRM meant more than learning—it meant exchanging ideas with peers who are equally invested in growing their expertise,” she notes.

Alethea recalls one aspect that left a lasting impression—the retirement planning module presented by CEO Marcus Chu. “Seeing the actual costs of retirement made me pause. It’s not something that happens overnight. You need to plan early, and IRM made that crystal clear,” she explains. Inspired, she shared the insights with friends, reinforcing the importance of asset progression and early planning.

CEO Marcus Chu reveals surprising retirement costs in Singapore, sparking reflection.

Putting Knowledge to Work

Alethea didn’t just learn—she applied. Shortly after completing the IRM, she made a strategic decision to purchase a unit at Emerald of Katong. “It wasn’t impulsive,” she says. “Buying a property isn’t like picking out shoes. But the knowledge I’d gained made the decision straightforward. The location, amenities, and investment potential—it all made sense.”

Her experience paid off beyond her personal investment. Alethea believes in sharing the knowledge she gains, regularly posting informative content on social media, and even breaking down real estate news for her audience.

Alethea also successfully closed a deal for one of her clients at the same development. “It was rewarding because I genuinely believed in the value of the property. When you understand what you’re recommending, it shows,” she shares. She was especially moved when her client cut short an overseas trip to secure the unit.

Alethea securing her very own investment unit at the recently launched Emerald of Katong 

Eyes Set on the Future

As she looks ahead, Alethea remains committed to learning. She eagerly anticipates the next IRM session, ready to expand her understanding of portfolio structuring and asset progression. “Every time I attend, I walk away with something new. It shapes not just how I approach clients but how I plan my own future,” she says.

Alethea Seet’s journey is a testament to the transformative power of knowledge. Her story proves that with the right mindset and tools, the path to financial growth and success is clearer—and more rewarding—than ever.

Take the First Step Toward Your Real Estate Success

If you’re ready to elevate your career and unlock new opportunities, the Investor Realtor Masterclass (IRM) is your gateway to deeper insights and real-world strategies. Join Alethea and countless others who have transformed their careers by signing up for IRM today. Empower yourself with the tools to build wealth and shape your future!
Sign up now: https://events.era.com.sg/irm

Thriving with Community and Support at ERA

In just a few years, Dorian Tan has achieved what many aspire to be in the competitive world of real estate. Securing Millionaire Achiever status in both 2023 and 2024, his journey showcases a perfect balance of personal fulfilment and professional success. At the heart of these achievements lie his connection to ERA, a supportive community that empowered him to thrive.

The Journey Home

Dorian’s career once required him to spend significant time away from Singapore, often traveling for months or years at a time. While these opportunities were rewarding, they also made him long for home. “I missed the familiarity of Singapore and, most importantly, being present with my family,” he reflects.

Upon returning to Singapore, Dorian decided to chart a new path – one that allowed him to stay grounded. Real estate became a perfect fit. “Selling homes felt natural,” Dorian explains. “It’s about helping others find a place they can call their own, something I value deeply after spending so much time away from mine.”

Focused and driven, Dorian is dedicated to finding the perfect place his clients can proudly call home.

Success Through Support

Dorian’s success in real estate is a testament to both his hard work and the people who supported him at ERA. “ERA is more than just a reputable brand—it’s a community that truly supports its agents,” he shares. “From experienced mentors to supportive management, the ecosystem here is designed for growth. Having seen the importance of strong teamwork in my previous roles, I recognized the same values at ERA, which made it the ideal place to thrive.”

He highlights how the genuine care and guidance of his mentors and colleagues helped him navigate challenges. “ERA’s people are what set it apart. It’s not just about tools; it’s about the relationships, the trust, and the shared vision for success that make all the difference,” Dorian notes.

A Father’s Commitment

As a father of twins, Dorian’s career in real estate offered him more than just financial stability. It gave him the freedom to be present for his family, witness milestones, and create cherished memories. “Time with my family is priceless,” he says. “This career allows me to balance professional success with personal fulfillment.”

A Two-Year Milestone

Dorian’s dedication and resilience translated into millionaire status in both 2023 and 2024. “Reaching this milestone isn’t just about the numbers,” he reflects. “It’s about proving to myself and my family that this career shift was the right choice.”

Finding Home in Real Estate

For Dorian, real estate is more than a career; it’s a calling. It’s about finding a home—in Singapore, in his work, and within ERA’s supportive community. His story is a powerful reminder that success is not just about seizing opportunities but also about finding where you truly belong.

Dorian Tan’s journey exemplifies the transformative power of aligning one’s values with the right environment. For anyone considering a leap of faith, his story stands as proof that, with determination and the support of a community like ERA, success is always within reach.

ERA, Where Ambitions Soar to Limitless Heights

While many fresh university graduates embark on corporate careers, Gina Tng charted her own path. With a degree in environmental engineering from Nanyang Technological University and a world of possibilities ahead, she made a bold decision: to forgo the conventional climb up the corporate ladder and dive straight into the dynamic world of real estate. Almost 15 years later, Gina stands as a testament to how daring choices and unwavering determination can lead to realizing no goals are too big to be achieved, even achieving a seven-figure commission in just one month.

A Record-Breaking Career

Gina entered the real estate industry with ambitious goals and a relentless drive. Her initial aim of achieving six-figure monthly incomes quickly became a reality, sustained for over a year. Not content with stopping there, she set her sights on even loftier targets, eventually achieving milestone incomes of a quarter-million, half-million, and even a seven-figure month. In June 2020, these incredible achievements earned her the title of ERA’s Record Sales Realtor, solidifying her position as one of the top agents in the industry. Managing over 100 teammates, she has personally closed more than 1,000 transactions, including luxury condominiums, landed homes, commercial buildings, and Good Class Bungalows worth millions.

Success Built on Integrity and Relationships

For Gina, success is not just about numbers but the trust and relationships she builds with her clients. “Real estate isn’t about making a quick sale,” she shares. “It’s about being honest and genuine, guiding clients toward sound decisions, and building long-term relationships.”

Her client-first approach has garnered her countless five-star reviews and a loyal following of repeat customers. Many have referred her to their family and friends, cementing her reputation as a trusted family agent. “When I tell clients the good and bad about a property, it’s because I want them to make informed decisions. Their trust means everything to me,” she adds.

Embracing the Luxury Market with Plush by ERA

Gina is a distinguished member of the Plush by ERA network, an exclusive community for agents who broker the sale of luxury properties worth more than $5 million every two years and earn a minimum annual commission of $200,000. As one of its inaugural members, Gina has leveraged this platform to network with like-minded professionals and share experiences in dealing with high-net-worth clients. “Women should be financially independent and dare to dream freely,” she says. “It takes time and determination to attain success, but the sky’s the limit if you hold on to your beliefs.

Redefining Real Estate Through Innovation

Gina’s success also stems from her adaptability and embrace of technology. From leveraging social media to mastering SALES+ super app, she ensures her clients receive the best insights and data for their property portfolios. During the COVID-19 pandemic, she pivoted to digital marketing and successfully closed deals that others found challenging.

A Vision for Wealth Creation

Real estate, for Gina, is more than a career; it’s a means of creating lasting value. “I believe real estate is one of the most powerful tools for wealth creation in land-scarce Singapore,” she says. Her journey reflects this belief—from purchasing her first condominium to achieving her dream of a landed home for her parents and four dogs. “This career has allowed me to build a life I’m proud of, while staying true to my values of hard work and family.”

Inspiring the Next Generation

To fresh graduates considering a career in real estate, Gina offers this advice: “Take bold steps, stay committed, and live a life with no regrets. The flexibility and financial freedom this career offers are unmatched, but it requires discipline and the right mindset to excel.”

Gina Tng’s journey is a testament to the power of daring to dream and staying grounded in one’s values. From fresh graduate to real estate leader, her story inspires anyone looking to carve their own path and build a legacy of success.

Empowered by ERA’s Expertise and Community

In the dynamic world of real estate, Eugene Kang has carved a niche as a top-performing project sales agent who seamlessly combines professional expertise with personal investment acumen. For Eugene, real estate is not just a career—it’s a way of life rooted in hard work, family, and a vision for long-term success.

A Strategic Start

Eugene’s investment journey began years before his professional career, with the purchase of an Executive Condominium (EC) that became his matrimonial home. This milestone decision reflected his foresight and commitment to creating stability for his family. “The EC was a stepping stone,” Eugene shares. “It taught me the value of thoughtful, long-term decisions in property investments.” Over the years, the value of this EC has doubled, showcasing the power of strategic planning and market timing.

From EC to Active Property Investment

After meeting the EC’s Minimum Occupation Period (MOP), Eugene strategically decoupled ownership to invest in a new launch property. This move marked his shift into active property investment, leveraging the market insights and tools he developed through his career. The decision paid off handsomely, with the property appreciating 20% in value since its purchase. “As agents, we’re constantly immersed in the market. This gives us a unique advantage not just to guide clients but also to secure opportunities for ourselves,” he notes.

Aligning Personal and Financial Goals

Eugene’s personal investment strategy recently brought him and his family to Chuan Park, a highly anticipated development in the Serangoon area. Seizing the opportunity, they acquired multiple units as a family, aligning both their personal and financial goals. “It was a strategic decision,” Eugene explains. “With its excellent location and growth potential, Chuan Park checked all the boxes for us.”

Eugene submitting his own cheque at the recent Chuan Park launch.

Leading by Example in Real Estate

While Eugene is known for his accolades in project sales, he believes success goes beyond transactions. “Clients trust you more when they see you making the same decisions you advise them to make,” he says. “It’s about showing that you believe in what you’re recommending.”

Balancing Career and Family

Beyond the office, Eugene is a devoted family man. He cherishes moments with his loved ones and often shares glimpses of his life on social media, emphasizing the importance of balance. “Real estate isn’t just about financial gains; it’s about creating a life where my family feels secure and connected,” he reflects.

Eugene’s son browsing a showflat, exploring the space with curiosity.

Inspiring Others as a Leader and Mentor

Eugene’s leadership as a team player and mentor is another testament to his dedication. A consistent top performer, he motivates his team to excel through determination and teamwork. “Success doesn’t come easy, but it’s always worth the effort,” he says.

Your First Step Into Property Investment

For individuals inspired by Eugene’s journey, taking the first step in property investment is key. The upcoming Investor Realtor Masterclass offers a rare opportunity to learn actionable strategies from industry leaders, including CEO Marcus Chu. Equip yourself with the tools and insights needed to navigate Singapore’s real estate market confidently.

A Legacy of Knowledge and Resilience

Eugene Kang’s experience is a reminder of the power of knowledge, resilience, and the importance of making informed decisions that benefit not just yourself but also those you care about

ERA’s Ecosystem, Designed For Success

When the COVID-19 pandemic struck, it forced many to rethink their paths. For Claire Tan, a pause in her thriving beauty business became the catalyst for an extraordinary career pivot. Today, Claire is a celebrated real estate agent, ranked among the Top Achievers, a Rising Millionaire of 2024, and the winner of PropertyGuru’s reality TV show, Home Run. Her journey is inspiring—a testament to focus, discipline, and the pursuit of excellence.

Seizing Opportunity Amid Adversity

Before real estate, Claire was deeply focused in her beauty business. “I never imagined going into real estate full-time,” she recalls. Then came COVID-19. With the world slowing down, Claire pursued her RES papers. Initially, she saw real estate as a part-time venture, but the effort required to pass the papers sparked a realization. “After I realized how challenging the papers were, I didn’t want to waste my effort,” she shares. “So, I went full force into it.”

With a growing team managing Ladyy Claire Makeup, Claire focused entirely on real estate.

The Drive to Excel

Claire’s philosophy: “How we do anything is how we do everything.” When she committed to real estate, she gave it 200%. The industry’s complexity appealed to her curiosity, and she viewed her career as a game with milestones to conquer. “Focus and discipline are the two pillars of success,” she says. “Even when I’m not feeling my best, I show up and make things happen.”

Claire’s dedication paid off. In just two years, she became a Rising Millionaire and consistently a Top Achiever. Her crowning moment was winning PropertyGuru’s Home Run. “It was an eye-opening experience,” she says. “I stepped out of my comfort zone, upskilled, and formed beautiful friendships.” The show also boosted her career, with clients often recognizing her immediately.

Claire clinched the 9th Top New Achiever of 2023 

Support and Mentorship

Claire credits her success to ERA’s supportive environment, which she describes as a crucial element in her journey. “ERA gives me a sense of home and belonging,” she says. “The people – agents, mentors, back-end staff – are always ready to help.” The company’s innovative tools, like SALES+, and consistent training provided her with a competitive edge, enabling her to deliver professional and reliable service to clients. “ERA’s ecosystem is designed for success,” she adds.

Claire has also embraced the role of mentorship, inspired by the support she received. Her mentees speak highly of her dedication. “Claire is an amazing mentor,” shares Agnes, one of her teammates. “She identifies my blind spots quickly and offers advice to refine my approach. Her experience and emotional intelligence have taught me invaluable negotiation and people skills.” Jadis adds, “Claire has been an incredible mentor since day one of my journey in real estate. She exudes confidence and provides invaluable pointers, always with unwavering promptness and support.”

Balancing Two Worlds

Juggling her roles as a business owner and agent was no small feat. Claire had to compartmentalize her schedule and strategize for the best results. “I redirected my company to save time while ensuring my real estate business delivered high ROI,” she explains. ERA’s resources, including an effective support team and mentorship, supported in maintaining this balance.

Claire started her beauty business, Ladyy Claire Makeup at the age of 17

Lessons and Takeaways

Engaging with high-net-worth clients has been rewarding. These interactions gave her life-changing perspectives and confidence. “My first few clients chose me for my sincerity and hunger to serve,” she recalls. “It reminded me that real estate is a people business. People buy from those they feel connected to.”

Words of Wisdom

Claire’s advice: “Find a good-hearted and capable mentor, be humble, and get to work.” She encourages aspiring agents to see self-employment as an opportunity. “The sky’s the limit,” she says. “With grit and action, your hard work will make an impact.”

A Journey of Inspiration

Claire Tan’s journey from beauty mogul to real estate millionaire exemplifies the power of determination and adaptability. Her story serves as a beacon for anyone looking to reinvent themselves, proving that with the right mindset, anything is possible.

Claire with her satisfied clients who managed to secure a unit at the recent Chuan Park launch. 

New year, new launches, and new opportunities to find your dream home.

Following a lull in the earlier months of 2024, November saw no fewer than six new private residential developments hitting the market all at once. These include The Collective at One Sophia, Chuan Park, Emerald of Katong, Union Square Residences, Nava Grove, and Novo Place (Executive Condominium) – all of which saw heathy take-up rates on their respective launch weekends.

However, despite the strong demand exhibited by condo-seekers, it’s still early days as to whether such a level of interest is sustainable next year. Still, in any case, prospective private home buyers in Singapore will definitely have more new launches to look forward to as 2025 unfolds.

What are the new private home launches coming in 2025?

With 24 new private home developments, as well as three EC projects, anticipated to launch next year, 2025 is already shaping up to be a year of opportunity for owners and investors alike.

Below, a quick summary of these upcoming launches, which will bring close to 11,000 new private homes and 2,000 ECs to the market:

Table 1: New private home launches in 2025

Table 2: New executive condominium launches in 2025

Source: ERA Project Marketing, ERA Research and Market Intelligence

Core Central Region (CCR) launches in 2025

By and large, 2024 was a subdued year for CCR launches. In the first nine months of the year, developers launched just 313 new private homes in Singapore’s city core – a stark contrast to the 941 units in the RCR and 1,968 units in the OCR.

However, a turnaround is on the cards in 2025, with approximately 3,600 units across nine CCR launches projected for the full year.

Near Singapore’s Central Business District (CBD) and Marina Bay, homebuyers can expect to see the launch of W Residences – Marina View, as well as a yet-unnamed development at Marina Gardens Lane.

W Residences – Marina View is a premium development offering some 680 residences with unparalleled connectivity to three major expressways (Marina Coastal Expressway, Ayer Rajah Expressway, and Central Expressway) and multiple MRT stations (Shenton Way, Downtown, Marina Bay, Tanjong Pagar, Bayfront).

On the other hand, the upcoming launch at Marina Gardens Lane will be the first of its kind, being a 790-unit development close to Marina Bay Sands and Gardens by the Bay. Moreover, its proximity to the future Marina South MRT station promises great convenience for future residents.

Further away from the CBD, homebuyers can look forward to several small to mid-sized launches at four sites. These include River Valley Green (380 units), Holland Drive (680 units), Orchard Boulevard (280 units), and Aurea (188 units).

River Valley Green’s future launch is within reach of Great World MRT station and Great World City shopping centre, while also possessing strong rental prospects due to its CCR location. Meanwhile, Holland Drive’s location in District 10 makes it an appealing option for condo-seekers who prize proximity to both the city core and green spaces in Singapore.

Though it comprises just 280 units, the upcoming launch at Orchard Boulevard is big on convenience, as it has a direct link to Orchard Boulevard MRT station on the Thomson-East Coast Line. Not to mention, it is near the Orchard Road shopping belt which would give future residents access to a multitude of retail, dining and entertainment options.

Situated at the site of the former Golden Mile Complex, Aurea follows in the footsteps of its predecessor by offering residents the unique opportunity to live, work, and play at Beach Road. Besides providing a fresh supply of 188 new private homes to the area, Aurea’s launch will also be joined by an array of new retail shops, healthcare facilities and offices at The Golden Mile – a sister development for commercial use.

Rest of Central Region (RCR) launches in 2025

Not unlike the CCR, the RCR will see a total of nine projects making their debut in 2025. Collectively, these new launches will bring a fresh supply of 3,790 units to city fringe locations, such as Toa Payoh, Queenstown, and River Valley.

Notably, The Orie will make its debut in January, marking Toa Payoh’s first new launch in almost ten years since Gem Residences in 2015. Consequently, prospective buyers can anticipate stiff competition during The Orie’s launch, stemming from a potent combination of pent-up demand and limited supply in the neighbourhood.

Moreover, this future 777-unit development will be sited along Toa Payoh Lorong 1, which places it in close proximity of Braddell MRT station, several food centres, and notable educational institutions, including Pei Chun Public School and CHIJ Primary (Toa Payoh).

Over in Queenstown, condo-seekers can look ahead to a future mid-sized development at Margaret Drive, with a possible launch in 3Q 2025.

Said project is expected to feature a total of 460 units and boasts attractive attributes. These include its close proximity to Queenstown MRT station, Queenstown Public Library, as well as Margaret Drive Hawker Centre. Additionally, it lies within a 1km radius of Queenstown Primary School and Queensway Secondary School.

Similarly, 2025 is shaping up to be a thriving year for the River Valley precinct – with not one, but two new launches situated at Zion Road. Of these two projects, one (Zion Road – Parcel A) is on track for a 2Q 2025 launch and is earmarked for development as a pilot site for long-stay serviced apartments, while the other (Zion Road – Parcel B) could make its debut in 3Q 2025 with 610 private homes in total.

Outside Central Region (OCR) launches in 2025

While the OCR will have fewer launches than other regions, with only six private residential projects in 2025, it is still expected to deliver a comparable total of approximately 3,600 new homes. These projects are located in popular OCR locales, including Tampines, Clementi, Lentor, and Upper Thomson.

In particular, Parktown Residence stands out as the largest OCR project amongst next year’s upcoming launches. Comprised of 1,193 units, this mega-development in Tampines will be developed as an integrated project, giving residents convenient access to a bus interchange, community club, eateries, as well as the future Tampines North MRT Station on the Cross-Island Line.

Over at Clementi, Elta – a 501-unit, 99-year development – is slated for a first quarter launch. The area has previously seen a string of successful launches with Clavon and Clement Canopy achieving over 70% take-up rates on launch day. History could repeat, given Elta’s proximity to a well-rounded mix of reputable schools (e.g. Nan Hua High School, NUS High School of Mathematics and Science), convenient amenities (e.g. Clementi Mall, Clementi 448 Market & Food Centre), and transport nodes (e.g. Clementi MRT station).

Up North, Lentor will be seeing its sixth new launch in Lentor Central Residences. Since 2022, the private residential enclave has welcomed Lentor Modern, Lentor Hills Residences, Hillock Green, Lentoria, and Lentor Mansion, all of which have seen varying levels of success during their respective launches.

As of November 2024, most of the abovementioned developments have achieved solid take-up rates ranging from 65% to 98%, with Lentor Modern being fully sold. Hence, given this combination of strong demand and limited remaining stock, there’s a strong likelihood that future homes at Lentor Central Residences will also attract significant interest.

Meanwhile, 2Q 2025 could mark the launch of a large 940-unit development at Upper Thomson Road. The site of this upcoming condo project sits within walking distance of Springleaf MRT station, and is also closely located to MacRitchie Reservoir. This means that future residents can enjoy the best of both worlds: efficient transport connectivity to urban areas, as well as proximity to green spaces nearby.

Executive Condominium launches for 2025

In contrast, 2025 is expected to bring a surge in EC supply, with approximately 2,030 units across three launches – Aurelle of Tampines (760 units), Plantation Close (560 units), and Jalan Loyang Besar (710 units). This could also potentially mark the highest number of EC dwellings to be launched in a year since 2014, when 2,505 units made their debut.

Aurelle of Tampines is situated near the upcoming Tampines North MRT station, as well as Tenet, a popular EC that sold 72% of its units on launch day. Tenet’s performance was largely thanks to its location in a well-established town – an advantage that Aurelle could also benefit from.

Likewise, both future ECs at Plantation Close and Jalan Loyang Besar hold appeal as well. The Plantation Close EC is located within Tengah, which is envisioned to be developed as a futuristic new town under URA’s West Region Master Plan. As for the future EC at Jalan Loyang Besar, it is within reach of notable amenities including Pasir Ris Park and Downtown East shopping mall, while also being the first new EC in Pasir Ris since 2012.

In Closing

With new projects popping up all across the island, 2025 is looking to be buyers looking for private homes or ECs that suit their specific needs, budgets, and preferences. Whether it’s premium mixed-use developments in the heart of the city or cost-effective homes in suburban Singapore, there’s something for everyone.

To get one step closer to securing your dream home in 2025, be sure to reach out to an ERA Trusted Adviser today for help in navigating your property journey!

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval. 

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)

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.

Senja Close (EC) – 295 units

Initially announced under the Reserve List in 2H 2024’s GLS programme before being moved to the Confirmed List in the current round of GLS announcements, Senja Close is one of three sites designated for EC development.

Expected to yield approximately 295 units, the future EC project at Senja Close will join Blossom Residences, another EC in the area which was completed in 2014. Nearby amenities include Senja Hawker Centre and Jelapang LRT station, promising future residents some measure of convenience.

Developers may show moderate interest in Senja Close, given limited competition due to the scarcity of fresh EC supply in the immediate vicinity. However, the site’s fair, but uninspiring location may limit its appeal.

Woodlands Drive 17 (EC) – 420 units

Among the trio of EC sites announced in this round’s GLS programme, Woodlands Drive stands out for its remarkably better locational attributes compared to other EC offerings. Traditionally, ECs are located in less-prime areas relative to private developments, making them a more budget-friendly option in exchange for further distances from key amenities.

However, the future EC at Woodlands Drive will be situated between two prominent facilities in the North, namely Singapore Sports School and Woodlands Health Campus. Additionally, the site is conveniently close to Woodlands South MRT station, which enhances its connectivity to other locations on the Thomson-East Coast Line. Consequently, developers could be drawn to Woodlands Drive, owing to its uniqueness and strong potential.

Sembawang Road (EC) – 265 units

Adjoining a pair of landed residential enclaves, the Sembawang Road site is nestled between the intersection of Yishun Avenue 7 and its namesake road. This relatively distant location places it a good distance away from the nearest MRT station (Canberra Station), as well as other amenities such as Sembawang Shopping Centre and Canberra Plaza. Traveling along Sembawang Road, future residents will also have access to Chong Pang Market and Food Centre.

We expect to see a fair degree of interest from developers for this site, given the tight EC supply in the area, as the latest past EC projects in Canberra (e.g. Parc Canberra and Provence Residence) are already sold out.

Lakeside Drive – 575 units

This site at Lakeside Drive follows the launches of two private condo developments, the LakeGarden Residences and Sora. These launches were relatively well received, due to the large growth potential from the adjacent Jurong Lake District. Furthermore, it stands out in terms of location, as it is a shorter distance from the MRT and primary schools.

We expect competitive bids for this site, as it is a site in a HDB estate within walking distance from an MRT, and within 1km priority enrolment distance of Rulang and Lakeside Primary Schools. Projects like these are normally well received by HDB upgraders within the same, and nearby estates.

Dunearn Road – 370 units

As the pilot GLS plot from the former Bukit Timah Turf City site, this 370-unit project will be flanked by the various landed neighbourhoods of Bukit Timah. Future residents of this site will be served by the existing Sixth Avenue Downtown Line station and an upcoming Cross Island Line station. It is likely that the pricing and future development of the project will be that of a premium development, marketed for existing residents in the surrounding landed estates.

This site should draw the attention of bidders, who are likely to be drawn in by first movers’ advantage, following the attention drawn to the announcement of transformation plans of Bukit Timah Turf City earlier in the year.

Chuan Grove – 505 units

This GLS site at Chuan Grove will be part of the 1H 2025 GLS confirmed list, after its neighbouring site was announced as part of the confirmed list in 2H 2024. The site will see connectivity via nearby Lorong Chuan MRT, and priority enrolment to St. Gabriel’s Primary School. It should see strong upgrader interest from HDB owners at Bishan, Toa Payoh, and Serangoon, with strong rental potential due to its proximity to the nearby Australian International School.

The site, which can potentially yield 505 homes in high-rise tower blocks should see mixed interest, due to the presence of a neighbouring site with more units and an earlier completion timeline.

Upper Thomson Road (Parcel A) – 595 units

Adjacent to Parcel B, which tendered in 2H 2024, this Upper Thomson GLS site will be located next to Springleaf MRT, and its nearby landed estate.

Given that there is a lack of amenities, as well as a supply glut in this Upper Thomson and nearby Lentor area, we do not anticipate much bidding activity for this site.

Dorset Road – 430 units

This GLS site at Dorset Road is within close proximity of prime districts 9 & 10 in the city centre. It is also worth noting that it offers a potential 430 units, which is rare in the area, which mainly consists of smaller or boutique developments. Given its location, it is likely that the project will be developed as a more upscale project, catering to people who idealise a lifestyle in the heart of the city.

Given it strong locational attributes, being walking distance of Farrer Park MRT, as well as within 1km of Farrer Park Primary School and a large plot ratio, we should see a fairly competitive bidding process for this site.

Telok Blangah Road – 760 units

Kickstarting the Greater Southern Waterfront transformation is the launch of this Telok Blangah Road site, where the former Keppel Golf Course used to lie. 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.

Given these factors, we can expect a competitive bidding process for this Telok Blangah GLS site.

Hougang Central – 835 units

Among the sites announced for the Confirmed List this round, Hougang Central stands out as the only one with a commercial component, positioning it as an integrated development with the potential for approximately 835 residential units to be built. The site is also adjacent to Hougang MRT station, which is slated to become an interchange station connecting both the North East and Cross Island lines.

Strong interest from developers is anticipated for this site, thanks to its attractive features and the likely pent-up demand for private housing in the area. The most recent site sold in the vicinity was Hougang Avenue 2 in 2010, which became Terrasse, making it over a decade since a GLS site was last tendered in the neighbourhood.

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval.