Chencharu Close Gls Site Tender Extended September
The Housing and Development Board (HDB) has announced that the tender deadline for a 99-year leasehold mixed-use Government Land Sales (GLS) site along Chencharu Close has been extended to Sept 11. This extension was made in order to give prospective tenderers more time to prepare, as stated in a circular dated May 9 that was sent to the purchasers of the eDeveloper’s Packet for the site.
The site was first launched for sale in September 2024 and is located in the new 70-hectare HDB housing estate, Chencharu, within the Yishun HDB Township. It spans 316,997 square feet and has a gross floor area (GFA) of over 1.03 million square feet. It has the potential to yield about 875 residential units and up to 135,627 square feet of commercial space.
Out of the total commercial space, 58,125 square feet will be allocated for a bus interchange while another 37,674 square feet will be designated for a hawker centre, as stated in the site’s tender documents. The GLS site is within walking distance from Khatib MRT Station on the North-South Line and is also in close proximity to various sports and recreational facilities such as Yishun Stadium, Yishun Sports Centre, and Lower Seletar Reservoir Park. In addition, HomeTeamNS Khatib is located nearby and will provide additional recreational facilities.
.
When it comes to investing in Singapore’s properties, it is crucial for foreign investors to have a good grasp of the regulations and limitations that govern property ownership in the country. While foreigners are typically not restricted from purchasing condominium units, purchasing landed properties is subject to stricter ownership rules. However, foreign buyers must also pay the Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property purchase. Despite this added cost, the reliable stability and potential for growth in the Singapore real estate market continue to draw foreign investments. Keep an eye out for New Condo Launches, as they are a prime opportunity for foreign investors to enter the market.
Interested parties can check out the latest listings for HDB properties and compare the price trend of HDB versus condominiums and landed properties. They can also view past HDB rental transactions, recently launched projects, and listings for HDB flats. Additionally, they can look into condominium projects with the most unprofitable transactions.
In related news, the HDB resale price growth has slowed to 1.6% in 1Q2025, despite a record number of million-dollar flats. In the same quarter, HDB resale prices saw an increase of 1.5% quarter-on-quarter (q-o-q) in flash estimates. Furthermore, the private residential property price index has gone up by 0.6% q-o-q in 1Q2025, according to URA flash estimates.