Singapore Government Land Sales (GLS) – August 2025 Market Updates

Introduction

The Government Land Sales (GLS) Programme continues to play a pivotal role in Singapore’s property market. In August 2025, multiple residential and mixed-use sites were released, attracting strong participation from developers despite market cooling measures. These GLS results will directly shape upcoming condo launches over the next 2–3 years.

August 2, 2025 – Lentor Central GLS Tender Closed

• The GLS site at Lentor Central drew 5 bidders, reflecting developers’ sustained interest in the Lentor area.
• Highest bid: $1,150 psf ppr, submitted by a joint venture between a local developer and a foreign fund.
• Expected yield: 600–650 condo units.

Market Insight: Lentor continues to emerge as a residential hub, with strong demand due to MRT connectivity and family-friendly amenities.

August 6, 2025 – Thomson Road Mixed-Use Site Released

• A prime site along Thomson Road was launched for tender.
• Zoned for residential + retail, the site can yield 400 homes plus commercial units.
• Analysts expect bids in the range of $1,400–$1,600 psf ppr.

Market Insight: Mixed-use sites in city-fringe locations remain attractive as developers seek projects that combine residential with retail convenience.

August 10, 2025 – Hougang Avenue 10 GLS Tender Results

• The Hougang Avenue 10 residential site received 6 bids.
• Winning bid: $980 psf ppr, significantly above market expectations.
• Potential yield: 800 units targeted at mass-market buyers.

Market Insight: Suburban GLS sites continue to attract the most bids, reflecting healthy demand from developers for affordable, mass-market housing projects.

August 13, 2025 – Developer Sentiment Mid-Month

• Analysts noted that developers remain cautious but selectively aggressive in suburban and city-fringe bids.
• Luxury and prime district GLS sites receive fewer bids due to higher ABSD and slower foreign demand.
• Smaller developers are increasingly forming joint ventures to manage risk.

Market Insight: GLS participation patterns suggest developers are focusing on affordability-driven projects with strong end-user demand.

August 16, 2025 – Upper Thomson GLS Site Announced

• URA announced a new GLS site in Upper Thomson to be launched in Q4 2025.
• Estimated yield: 500 units, expected to attract developers due to proximity to MRT stations and schools.
• Early projections: $1,300–$1,500 psf ppr bid range.

Market Insight: New supply in Upper Thomson will balance rising demand in city-fringe areas, appealing to both families and investors.

August 20, 2025 – Executive Condo (EC) Site in Punggol Launched

• An EC site in Punggol was launched under GLS, expected to yield 700–750 units.
• EC land parcels remain highly competitive, as demand from Singaporean families is consistently strong.
• Developers predict launch prices for the finished project will be around $1,450–$1,550 psf.

Market Insight: EC sites are among the most sought-after GLS parcels, given their guaranteed demand and affordability edge.

August 23, 2025 – Investor Reactions to GLS Results

• Institutional investors view GLS outcomes as indicators of long-term market confidence.
• Recent winning bids show moderate optimism, with developers avoiding over-aggressive pricing.
• Market analysts believe new launches from August GLS sites will be priced competitively in 2027–2028.

Market Insight: GLS performance reassures buyers and investors that Singapore’s property market remains resilient despite cooling measures.

August 27, 2025 – GLS Market Outlook

• Upcoming GLS launches in Hougang Central, Lentor Gardens, and Upper Thomson are expected in Q4 2025.
• Developers remain selective, prioritizing sites with transport connectivity and family demand.
• Analysts forecast stable land bid prices with a slight 2–3% increase in 2026.

Conclusion

The August 2025 GLS updates highlight a balanced property market in Singapore. Developers are showing strong interest in suburban and city-fringe sites, while EC parcels continue to see fierce competition. Luxury and prime district GLS sites attract more cautious bids due to ABSD and cooling measures.

For buyers and investors, the GLS programme provides a clear view of upcoming housing supply. Projects from these GLS sites will shape the 2027–2028 condo market, ensuring steady housing availability across different segments.