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GLS Sites at Lakeside, Dunearn, & Woodlands may attract moderate bids on MRT proximity, strong new home sales
SINGAPORE: Residential sites for sale at Lakeside Drive, Dunearn Road, and Woodlands Drive 17, launched under the first half of the 2025 Government Land Sales (GLS) Programme, are expected to see moderate interest from bidders, analysts said, as reported by Singapore Business Review.
PropNex head of research and content Wong Siew Ying said developers may be drawn to these locations due to their proximity to MRT stations and strong new home sales, but bid prices could remain measured due to global economic uncertainties and market volatility.
According to OrangeTee & Tie CEO Justin Quek, the three plots could yield around 575, 380, and 420 units, respectively.
The Lakeside Drive site sits right next to Lakeside MRT and near Jurong Lake District. It’s one of the last two plots left in the area. Being within 1 km of Rulang Primary makes it a draw for families. The last plot in this spot was sold in 2015 for Lake Grande. With over 2,500 nearby HDB flats just hitting their minimum stay period, there may be strong interest from upgraders.
Huttons Asia CEO Mark Yip expects up to three bidders, with top offers likely between S$900 and S$1,000 per square foot per plot ratio (psf ppr).
Just a few steps away from Sixth Avenue MRT station, the Dunearn Road site is the first to launch in the new Turf City housing estate, part of the Stables Commune neighbourhood. It’s also close to well-known schools. The last site sold nearby was for Fourth Avenue Residences back in 2017.
With the 60% Additional Buyer’s Stamp Duty (ABSD) now hitting foreigners, most buyers in the Core Central Region are locals—making up nearly 80% of recent deals.
Mr Quek said he expects three to six bids for this site, with the highest bids estimated at S$1,300 to S$1,400 psf ppr.
The third plot, at Woodlands Drive 17, is an Executive Condominium (EC) site. It is the first EC site launched in Woodlands South since 2013 when Bellewoods was sold. It’s just a five-minute walk to Woodlands South MRT, one stop from the regional centre and two stops from the upcoming RTS link to Johor.
Around 6,500 HDB flats nearby were completed between 2016 and 2018, so there’s a good chance many families there are looking to upgrade.
Mr Yip expects four to six bidders, with top bids between S$700 and S$750 psf ppr.
The area is also getting a boost from big projects, including the upcoming Woodlands Health Campus, the Johor-Singapore Special Economic Zone (JS-SEZ), and the RTS link opening planned for 2027. /TISG
Featured image by Depositphotos (for illustration purposes only)
