BUY AND SELL A SINGAPORE PROPERTY FROM THE COMFORT OF YOUR HOUSE

Resale flat prices in Singapore rose by 0.4 per cent in the third quarter of 2025 — the slowest quarter-on-quarter increase since the second quarter of 2020, according to flash estimates released by the Housing and Development Board (HDB) on Wednesday (Oct 1). The resale price index climbed from 202.9 to 203.7, marking the 22nd consecutive quarter of growth since prices began rising in mid-2020. However, this also represents the fourth straight quarter of slowing price growth, reflecting a gradual cooling in the market after several rounds of housing measures introduced between 2021 and 2024. Cooling Market Amid Softer Economy HDB noted that the broader economic environment remains challenging, with Singapore’s gross domestic product growth expected to moderate in the second half of 2025. The agency also observed “early signs of moderating labour demand” and urged households to exercise prudence when purchasing properties and taking on mortgage loans. Resale transactions fell notably, with 7,157 flats changing hands as of Sep 29 — 10.9 per cent lower than the same period last year. Property analysts say the slowdown reflects both macroeconomic uncertainties and buyers holding out for upcoming public housing launches. October BTO Launch May Divert Demand The final Build-to-Order (BTO) exercise of the year will see more than 9,000 flats launched across Ang Mo Kio, Bedok, Bishan, Bukit Merah, Jurong East, Sengkang, Toa Payoh and Yishun. The October BTO launch could divert demand away from the resale HDB market, especially as new projects offer “early mover opportunities” in emerging estates such as Mount Pleasant and Berlayar. HDB Resale Price Forcast  Demand typically falls during the final quarter of the year as market activity slows during the holidays Fewer flats reaching their minimum occupation period (MOP) in 2025 — less supply leads to less sale transactions Resale prices to stay largely stable or see a slight dip in the fourth quarter. Demand for 5-room flats in mature estates is likely to remain resilient given limited supply. Outlook: A Calmer Year-End for the Resale Market With a combination of cooling measures, slower economic growth, and expanded BTO offerings, analysts agree that the public housing market is entering a period of price consolidation after years of sharp increases. While demand remains healthy, particularly for well-located and larger flats, the broader trend points toward a more balanced and sustainable resale market heading into 2026.

The Housing and Development Board (HDB) will selectively acquire privately owned HDB shops if necessary and increase the overall supply of commercial units it leases out, said Senior Minister of State for National Development Sun Xueling in Parliament on Wednesday (Sep 24). With this move, a higher proportion of shops will be directly rented out by HDB, where rents have remained stable in recent years. Ms Sun was responding to parliamentary questions about rising rents for HDB commercial units in heartland areas. There are about 15,500 HDB shops across Singapore, of which roughly 8,500 are privately owned and 7,000 are leased by HDB. “We are aware that per square foot rents for privately owned HDB shops have seen a steep increase recently,” said Ms Sun, noting that rents for privately held units have more than doubled over the past year, while HDB shop rents have remained largely stable. Ms Sun explained that the rise in rents coincided with more rental transactions involving smaller shop units, which generally command higher per-square-foot rents. About 740 privately owned HDB shops were sold on 30-year leases, over 80 per cent of which have less than 10 years remaining. These units will progressively revert to HDB ownership and be tenanted out. Another 7,700 shops were sold on 99-year leases, most with more than 30 years left. Since 1998, HDB has stopped selling shops to private owners and now rents them directly to businesses. Going forward, the agency will expand the supply of HDB rental shops, and “inject new retail supply to meet demand in existing estates when necessary”, said Ms Sun. This may include “selectively acquiring privately held HDB shops if needed”. Mr Henry Kwek (PAP–Kebun Baru) asked if such interventions would target essential trades like cooked food stalls, given their impact on living costs. Ms Sun replied that while the government allows market forces to play out, it would “take a more critical look” at essential sectors such as food and medical services. Mr Ang Wei Neng (PAP–West Coast–Jurong West) then questioned the conditions under which HDB would consider acquiring privately owned shops, noting that some owners lease their units at high rents, leading to an “undesirable business mix” in neighbourhoods, such as spas or moneylenders. Ms Sun said acquiring privately owned shops transacted at high prices would not be “a good use of taxpayers’ money”. However, HDB could consider acquiring nearby shops around high-rent units if necessary to stabilise the business mix. Stable Rents for Shops Leased Directly by HDB For shops rented directly by HDB, Ms Sun said “various measures are in place” to keep rents stable. HDB shop tenancies typically last three years, and renewal rents are determined by professional valuers based on recent rents of similar premises and current market conditions. Under this approach, rents for 90 per cent of HDB rental shops have not increased in the past five years. Over the last three years, average rents rose at a “moderate pace” of between 1.3 per cent and 3.3 per cent per year, she said. Sublet of HDB Shops Regarding the rental of sublet units, Ms Sun explained that HDB does not track such data, as these arrangements are private agreements between tenants and their subtenants. “We recognise concerns that sublet rents may have risen more sharply than the rents HDB charges its main tenants,” she added.

The upcoming Berlayar housing estate — located on the former Keppel Club golf course site in Bukit Merah — will offer about 10,000 homes, comprising 7,000 public flats and 3,000 private units, according to the Housing and Development Board (HDB). This marks an increase from the 6,000 public flats initially planned, following detailed planning and environmental studies of the 48-hectare site. Berlayar will be the first new estate launched under the Greater Southern Waterfront (GSW) initiative — a landmark project to rejuvenate Singapore’s southern coastline from Marina East to Pasir Panjang into a dynamic district for living, working, and leisure. Berlayar Residences: The First BTO Project The estate’s debut project, Berlayar Residences, will be offered in the October Build-to-Order (BTO) exercise. It comprises 870 two-room flexi, three-room, and four-room flats across four blocks ranging from 19 to 46 storeys, along with 200 public rental units. Conveniently located between Telok Blangah and Labrador Park MRT stations, the development will include amenities such as preschools, supermarkets, and eating houses. Given its prime city-fringe location, property analysts expect Berlayar Residences to be classified under the Prime category — part of HDB’s new classification framework that subjects such flats to longer minimum occupation periods (10 years) and resale subsidy clawbacks. A Green and Sustainable Urban Oasis Berlayar has been carefully designed to balance urban development with environmental conservation. Following an Environmental Impact Assessment and extensive engagement with nature groups, HDB has integrated several ecological features into the estate’s masterplan. About 10 hectares — or 20 per cent of the site — will be dedicated to green spaces, equivalent to roughly 18 football fields. The estate will feature four green corridors, each 30 to 60 metres wide, linking natural habitats between Labrador Nature Reserve and the Southern Ridges. The Henderson corridor was redesigned to guide bird movement safely, while the Berlayar corridor will help protect the mangrove habitat at Berlayar Creek and connect to a future Berlayar Creek Nature Park. A knoll of mature trees will also be preserved as a resting area for migratory birds. Beyond parks, residents can look forward to roof gardens, skyrise greenery, and bioswales that help manage stormwater and enhance biodiversity. Design Inspired by Nature and Heritage Architecturally, Berlayar’s design draws inspiration from the surrounding hills and coastlines. HDB flats will feature staggered building heights mirroring the slopes of Bukit Merah, oriented to offer scenic views of the Southern Ridges and waterfront. In keeping with its maritime setting, buildings will be painted in white and blue tones, with artistic motifs of local fauna such as the long-winged tomb bat, mangrove horseshoe crab, and smooth-coated otter appearing in community spaces and signage. Sustainability and Mobility Aligned with Singapore’s push for eco-friendly living, Berlayar will be a car-lite estate, with a comprehensive walking and cycling network connecting residents to transport nodes and nearby amenities. HDB also announced that all new developments in Berlayar will feature smart lighting, energy-efficient designs, and cool roof coatings to combat the urban heat island effect. National Development Minister Chee Hong Tat, unveiling the masterplan at the annual HDB Awards, described Berlayar as “an exciting first step towards realising our vision for urban living along the Greater Southern Waterfront.” “More than just a housing estate,” he added, “Berlayar will be a vibrant waterfront community where nature, heritage and modern living come together.” With its mix of modern homes, rich biodiversity, and sustainable design, Berlayar estate signals a bold new chapter in Singapore’s urban development — one that harmonises people, nature, and the city’s evolving southern skyline.

A prime mixed-use commercial and residential site at Chencharu Close, near Khatib MRT station, drew three bids at the close of its state tender on September 11. The top bid, amounting to S$1.01 billion, came from a consortium comprising Evia Real Estate, Gamuda (Malaysia), and Ho Lee Group. This translates to about S$980 per square foot per plot ratio (psf ppr) — roughly 20 per cent higher than the second-highest offer. The second bid, from a partnership between Frasers Property, Mitsubishi Estate, and Lum Chang Building Contractors, stood at S$845 million (S$818 psf ppr). A third bid by Sim Lian Land and Sim Lian Development came in at S$692.4 million (S$670 psf ppr). The 99-year leasehold plot, located in the emerging Chencharu residential precinct within Yishun town, spans 317,000 sq ft and is expected to yield about 875 private homes. It will also feature a bus interchange, hawker centre, and up to 135,625 sq ft of retail space, which must be held as a single strata lot — meaning no subdivision for individual sale. A Rare Integrated Development Opportunity Evia Real Estate, Gamuda (Malaysia), and Ho Lee Group are planning around 860 apartments and a two-level retail mall, integrated with the transport hub — offering convenience and vibrancy in a new housing estate. The site’s total gross floor area (GFA) is capped at 1.03 million sq ft, with nearly 78 per cent allocated for residential use. Analysts note that as the first government land sale (GLS) site in Chencharu with private housing, it presents a first-mover advantage for developers and buyers alike. Strong Location and Demand Drivers The Chencharu Close site enjoys proximity to several educational institutions — including Peiying Primary School, Chung Cheng High (Yishun), and Yishun Innova Junior College — as well as community amenities such as Khatib Polyclinic, Yishun Stadium, and Lower Seletar Reservoir Park. Market observers anticipate robust homebuyer interest, citing pent-up demand in northern Singapore. HDB statistics revealed more than 8,000 Build-To-Order (BTO) flats in Yishun will reach their five-year Minimum Occupation Period (MOP) from 2023, potentially fuelling strong upgrading demand for private housing. Benchmark Comparisons and Price Outlook Propertyforsale Managing Director expects units at the future Chencharu project to sell from S$2,000 psf, given its integrated features and limited new condo supply in the area. The last private condominium launch nearby was The Wisteria in 2016, with The Estuary dating back to 2010. Balanced Bid Reflects Complex Site Requirements Evia Real Estate and Gamuda have a strong track record of collaboration, having previously developed Gem Residences in Toa Payoh and OLA EC in Sengkang. Their latest Chencharu venture positions them to lead the transformation of Yishun’s next major residential and lifestyle hub. Summary: The Evia-Gamuda-Ho Lee consortium secured the Chencharu Close mixed-use site with a S$1.01 billion bid, setting the stage for a major integrated development featuring homes, retail, and transport facilities — and marking the first private housing launch in the Chencharu precinct.

A 41-year-old man, Koh Guohui, Robin, has been fined S$1.14 million for masterminding an extensive illegal short-term rental operation involving 31 private residential properties, the Urban Redevelopment Authority (URA) announced on Monday (Sep 15). Koh was the central figure in a group of six Singaporean men—aged between 33 and 81—who were convicted for their involvement in providing unauthorised short-term accommodation. Together, they were fined a total of S$1.27 million. Koh’s sentence was delivered on Monday, following the earlier sentencing of his accomplices between August 2024 and March 2025. A Coordinated Illegal Operation Between July 2019 and November 2021, Koh recruited several others — Lim En Xiang (33), Chew Lam Yong (61), Low Ah Tee (81), Chua Lian Beng (71), and Chow Yan Kit (34) — to join the operation in exchange for monthly salaries. According to URA, Koh was the sole director of SG Auto Car Pte Ltd, a company later renamed SG Bizloan Consultant, which he used to facilitate the illegal activities. His accomplices served as directors of four other companies — KCA, Edrich Group, Ed Werks Holdings, and ANZ Management Services — and signed tenancy agreements for the residential units on behalf of these firms. Koh was responsible for sourcing the units and subsequently listing them on online accommodation platforms such as Airbnb and HomeAway, advertising them for short-term stays of less than three months, in violation of the Planning Act. All rental payments went to Koh, who used multiple bank accounts, mobile numbers, and aliases to conceal his identity and the scale of the operation. Discovery and Enforcement The illegal activities were uncovered after the management council of a private residential development filed a report about suspected short-term stays at one of the properties rented under Edrich Group. Subsequent investigations revealed that the scheme extended to multiple developments, with corroborating feedback from residents and managing agents. Under the Planning Act, private residential properties in Singapore must be rented for a minimum of three consecutive months. The rule helps maintain the residential nature of neighbourhoods and prevents disruptions from transient occupants. URA’s Warning to Offenders Martin Tan, director of URA’s development control group, emphasised that the authority takes a zero-tolerance stance against illegal short-term rentals. “We will take strict enforcement action against individuals and entities who are found to be involved in any way, be it by facilitating the transfer of revenue or sourcing for properties and occupants,” he said. “This will include prosecution in court for severe cases where we will also press for deterrent sentences.” URA also urged the public to report suspected cases of illegal short-term accommodation in private residential properties to help safeguard the integrity of residential communities. Summary: Koh Guohui, Robin, was fined S$1.14 million for orchestrating a large-scale illegal short-term rental scheme involving 31 private residential properties. URA reiterated its firm stance against unauthorised short-term stays that violate Singapore’s Planning Act and disrupt residential neighbourhoods.