Reserved Serangoon housing site released for development

2 min read
A site near Serangoon Gardens was recently released for development
A site near Serangoon Gardens was recently released for development

A private housing site at Serangoon North Avenue 1 was released by the Urban Redevelopment Authority (URA) on Thursday (Oct 27) and is expected to be open for residential project tenders in the near future.

Previously on the Reserve List of the Government Land Sales (GLS) programme, the 1.7ha parcel has a gross plot ratio of 2.5, with a maximum permissible gross floor area of 42,973 sqm, according to a URA statement.

This roughly translates into an area of 462,557 sqf, which can accommodate close to 505 homes.

“This is a unique site given that it is going to house an estimated 505 apartment units in a two-storey low-rise development,” said Mr Ku Swee Yong, CEO of International Property Advisor.

‘“Each apartment will average about 900sqf to 1,000sqf. With the recent strong response to Forest Woods, I believe that this property should be very attractive to owner-occupiers, especially the low-rise, sprawled-out concept,” he said.

“The estimated selling price of the apartments could be about S$1,100psf. Therefore, the bid prices should be about S$650psf per plot ratio, or about S$300 million. At this quantum, I think we can easily see 10 to 12 bidders,” he added.

Mr Nicholas Mak, executive director, Research & Consultancy Department at SLP International Property Consultants, likewise believes that the site will be attractive due to the limited supply of new housing units in the area, but gave a more conservative estimate due to its irregular shape and distance from nearby MRT stations.

“If this site were launched for sale by tender today, the estimated land price would range from S$254 million to S$287 million (or S$550 to S$600psf ppr),” said Mr Mak.

Land parcels on the GLS Reserve List are only launched for sale when there is sufficient interest being expressed or when a developer places a bid that is deemed acceptable to the Government.

Visit Today for the full article.

Looking to sell your property?

Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.

One easy way is to send us a request for a credible and trusted property consultant to reach out to you.

Alternatively, you can jump onto’s Property Value Tool to get an estimate for free.

If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal

Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.

Join our social media communities!

Main Facebook page
Facebook #All Things HDB page
Facebook #Condo-Maniacs page
Facebook #UHNWIs Luxury Homes page
Instagram Main
Instagram #HouseInsights
Instagram #HouseTips
TikTok Main
TikTok #HouseTips

Reader Interactions

Leave a comment

Your email address will not be published. Required fields are marked *

Get the latest news in your inbox

  • This field is for validation purposes and should be left unchanged.