Bayshore’s Rising Appeal: First GLS Site Sees Strong Interest and Competitive Bidding
The first Government Land Sale (GLS) site in the highly anticipated Bayshore precinct has attracted strong interest, with eight bids submitted. SingHaiyi-Garnet clinched the top bid at $1,388 psf per plot ratio (ppr), surpassing expectations and setting a new benchmark for Outside Central Region (OCR) land prices (source).
What This Means for Buyers and Investors
The high bid price reflects developers’ confidence in Bayshore’s potential, given its prime location next to the upcoming Bayshore MRT Station and its sea-facing views. The new estate will feature 10,000 homes, with 30% designated for private housing, making it a key residential hotspot in the coming years.
Despite this record-breaking land rate, buyers should note that this is just the first of several plots to be sold in the area. Earlier GLS sites have transacted at lower rates, meaning upcoming launches could be priced more attractively compared to future projects as land prices continue to climb.
A First-Mover Opportunity in a Transforming District
The Bayshore area has not seen significant private condo launches for decades, with existing projects like The Bayshore and Costa Del Sol dating back to the 1990s and early 2000s. Given the pent-up demand from upgraders in nearby estates like Marine Parade and Bedok, the strong developer interest signals high potential for capital appreciation and rental demand in the years ahead.
Knight Frank projects that prices for the first development in this precinct could start from $2,700 psf and average above $2,800 psf. This presents an opportunity for buyers to secure a unit at upcoming launches before prices escalate further
Key Takeaways:
✅ Bayshore’s first GLS site received eight bids, with SingHaiyi’s top bid at $1,388 psf ppr.
✅ Developers are confident in Bayshore’s potential, citing its connectivity and sea views.
✅ Buyers can take advantage of earlier land sales offering more attractive launch prices.
✅ Future projects in Bayshore are expected to command prices exceeding $2,700 psf.
✅ Strong demand is expected from upgraders in nearby estates like Marine Parade and Bedok.
Act Now Before Prices Rise!
The Bayshore transformation is just beginning, and early buyers stand to benefit the most. If you’re considering a purchase in this exciting new district, reach out today to explore your options before prices climb further!