Second Chuan Grove GLS site launched for tender
Caveats lodged with URA since May 13 show that 753 units (82%) at Chuan Park have been marketed, leaving simply 163 units left. The limited new housing units may translate to greater need for future private residential sites, adds Quek.
Huttons’ Yip mentions that the Chuan Grove locations may likewise leverage the limited stock of in the market real estate in the wider Outside Central Region (OCR). “Since 1Q2025, the OCR has the most affordable variety of unsold units of 4,361 in the marketplace,” he says. In comparison, yearly sales in the OCR have actually balanced around 3,000 units in the last five years. This indicates the present unsold supply could be taken in by the market in just around a year, Yip assessments.
He believes the newly-launched Chuan Grove place can attract up to 3 prospective buyers, with a top bid ranging from $900 to $1,000 psf per plot ratio (ppr). “In spite of the uncertainties from worldwide tolls, this site has relatively reduced danger, considering the low level of unsold units in the location in addition to islandwide,” he says.
URA has already released the tender for a residential Government Land Sale (GLS) location near Chuan Grove, off Lorong Chuan in District 19. The 99-year leasehold place measures 156,231 sq ft and can generate about 505 units. The location was launched up for sale as portion of the 1H2025 GLS Programme. The tender will close on Sept 4.
OrangeTee’s Quek anticipates approximately six prospective buyers for the site, with a top proposal of $1,100 to $1,200 psf. “Considered that there is a big catchment of possible HDB upgraders from the nearby areas of Serangoon, Bishan, and Ang Mo Kio, property developers might be lured to bid for land here,” he describes. Quek includes that the landed residential territories in Serangoon Gardens and Lorong Chuan could also offer a pool of landed homeowners around looking to right-size.
Justin Quek, Chief Executive Officer of OrangeTee & Tie, considers that the future projects on the Chuan Grove sites could take advantage of the constrained interest that is evident for brand-new homes in the location. Last November, the release of the Kingsford Team’s Chuan Park, located just down the road from the Chuan Grove spots, garnered a sturdy reaction with 76% of its 916 units snapped up throughout the launch weekend. The units were sold at an average rate of approximately $2,579 psf.
As the Chuan Grove plots stand right beside each other, they share similar locational aspects, observes Mark Yip, Chief Executive Officer of Huttons Asia. The Chuan Grove area is a five-minute walking to Lorong Chuan MRT Station on the Circle Line, whilst also being next to the NTP+ mall, that offers dining and retail amenities.
Schools within a 1km distance of the location consist of CHIJ Our Lady of Good Counsel, Presbyterian Primary School, St Gabriel’s Primary School and Yangzheng Primary School. The Australian International School is also not far away, which might supply a pool of potential renters, states Yip.
This is the second GLS site at Chuan Grove to be opened for tender. Last December, a nearby plot under the 2H2024 GLS Programme increased for sale. The tender for the 511,232 sq ft site, which can likely produce 555 housing units, will finalize on July 8.
At The Same Time, Marcus Chu, CEO of ERA Singapore, expects the outcome of the tender for the Chuan Grove site started last December to factor right into offers for the 2nd plot. “If the first Chuan Grove site sees high demand and bids, we could see demand spillover right into this site,” he states. As it is, he anticipates between three to five bids for the current site, with a leading proposal of $1,250 to $1,350 psf ppr.
