Marina Gardens Lane sole bid at S$1,243 psf ppr, Q3 landed prices, auction sales, retail vacancy (SG Property Daily)
Propwise Analysis
Top-selling new launch condos by units sold (Sep 2026)
New launch projects ranked by units sold in the latest month, with units launched, sold to date, units left and median price per sq ft (URA data).
News
URA awards Marina Gardens Lane site to EL Development at S$1,243 psf ppr
The sole bidder, EL Development, won the 99-year leasehold site for S$450.1 million, or S$1,243 psf ppr. The land rate is 11.3% below the S$1,402 psf ppr Kingsford paid in 2023 for the neighbouring One Marina Gardens plot. The 64,659 sq ft site can yield about 390 homes. Tender launched on 13 Aug and closed on 15 Oct.
Marina Gardens Lane bid was below the S$1,400 to S$1,500 psf ppr that analysts expected
EL Development was the only developer to bid, at S$450 million for the 64,700 sq ft site. That is well below the S$1,400 to S$1,500 psf ppr that nearly all analysts expected, and below what Kingsford paid for the One Marina Gardens site next door. The low bid may matter to future buyers on the site and to those who bought at One Marina Gardens.
Landed prices up 3.7% QoQ in Q3 to S$2,275 psf; semi-detached up 4.7% QoQ
Landed prices, excluding Good Class Bungalows and strata landed homes, rose 3.7% QoQ to an average S$2,275 psf in Q3 2026 (URA data compiled by Huttons). Semi-detached rose 4.7% QoQ to S$2,082 psf, terraced 2.7% to S$2,400 psf and detached 1.4% to S$2,046 psf. Semi-detached sales fell 13.3% QoQ to 143 units, while terraced sales held at 300 against 301 in Q2.
Auction sales total S$24.1 million in Q3; four of nine sold homes came from the money laundering case
Nine properties sold at auction in Q3 2026 from 163 listings, a 5.5% success rate against 5.7% in Q2 (Knight Frank). Of 26 listings linked to the S$3 billion money laundering case, four condo units sold, all below their opening bids, for S$16.3 million combined, two-thirds of the S$24.1 million total. Knight Frank projects a success rate of 3% to 5% for the year.
Retail vacancy falls to 1.4% QoQ in Q3 as gross monthly rent edges up to S$37.93 psf
Retail vacancy fell to 1.4% in Q3 2026 from 1.5% in Q2, with Prime and Suburban submarkets down and secondary submarkets slightly up (JLL). Gross monthly rent rose to S$37.93 psf from S$37.89 psf QoQ. Year-to-date net absorption is negative at 0.16 million sq ft against 0.10 million sq ft of completions.
Industrial capital values and rents stay flat in Q3 as occupiers stay cautious
Demand for high-specification logistics space held firm in Q3 2026, but occupiers stayed cautious amid persistent cost pressures. Capital values and rental rates stayed flat (JLL).
The Assembly Place to invest up to S$2.5 million in S$300 million living-sector fund
The Catalist-listed operator is proposed as property manager and operator of the fund, which targets Singapore and Asia-Pacific and is managed by ICHAM. It manages more than 3,520 keys across 103 assets in Singapore, with more than 2,100 keys in its pipeline, and aims for more than 10,000 keys by end-2030. The fund has not said which assets it will buy or build.
What a Singaporean pays to buy a condo in Thailand, beyond the price tag
Foreigners cannot own land in Thailand, but the Condominium Act allows freehold ownership of individual condo units. Foreigners together cannot own more than 49% of a condominium’s total floor area. The cost goes beyond the price: taxes, legal fees, maintenance and selling costs also apply.