The Next 100% Sold Out New Launch? Bayshore GLS?

The Urban Redevelopment Authority (URA) has unveiled the tender for a highly anticipated Government Land Sale (GLS) site at Bayshore Road. Positioned next to the Bayshore MRT Station on the Thomson-East Coast Line (TEL), this site isn’t just another plot of land—it’s a game-changer in the making. With a prime location, connectivity, and potential sea views, the Bayshore GLS site is shaping up to be a strong contender for the next 100% sold-out project, with high demand anticipated—provided the price is right.

What Makes Bayshore’s GLS Site Stand Out?

The 99-year leasehold site, which spans 112,992 sq ft and has a maximum gross floor area (GFA) of 474,570 sq ft, is set to yield about 515 private residential units. As the first private residential project in the new Bayshore precinct, it not only offers unparalleled accessibility and amenities but also holds significant future growth potential, making it a promising long-term investment.

A Vision of Coastal Living

The Bayshore precinct, a 60-hectare master-planned estate on reclaimed land, is an exclusive haven. With approximately 10,000 new homes, of which 30% are private, this GLS site offers a unique coastal lifestyle close to the East Coast. Residents will have direct access to a vibrant ecosystem of shops, eateries, sports facilities, and mixed-use developments, making them part of an elite community.

Mark Yip, CEO of Huttons Asia, highlights the site’s strategic location, which offers potential sea views that will inspire you every day. With doorstep MRT access and quick commutes, residents can reach downtown in just 20 minutes via the TEL or the CBD in 15 minutes by car via the East Coast Parkway (ECP). For families, top schools like Temasek Primary, Temasek Secondary, and Temasek Junior College are within a 1-2km radius, making it a convenient and desirable location for all.

Strong Demand Signals

With its picturesque East Coast living, Bayshore’s Winning Streak Bayshore is a unique and highly sought-after precinct. Its winning streak in the real estate market is evident from the strong demand for homes.

The demand for homes in Bayshore is no coincidence. The precinct’s first Build-To-Order (BTO) projects garnered overwhelming attention in October, with high application rates that underscore the urgency and competitiveness of the market. Over 5,000 applicants vied for just 1,006 four-room flats, translating to an application rate of nearly five times. This enthusiasm underscores the strong appeal of East Coast living.

This demand isn’t just limited to public housing. Marcus Chu, CEO of ERA Singapore, believes the Bayshore GLS site will attract homeowners from nearby private condos and landed estates like Kew and Sennett as they look to upgrade or right-size. The potential for growth and the rare opportunity to secure a brand-new home in this precinct will likely generate intense interest, sparking optimism for the future.

A Look Back at Past Success Stories

If history is any indication, Bayshore’s GLS site has every chance of becoming a sell-out success. Recent developments like Chuan Park and Emerald of Katong demonstrate how strategic location, thoughtful planning, and competitive pricing drive demand.

• Chuan Park: Achieved 76% sales on launch weekend, thanks to its proximity to Lorong Chuan MRT and expansive facilities.
• Emerald at Katong: Captured buyer interest with its East Coast address and value-driven pricing.

Similarly, the last major launch near Bayshore, Seaside Residences, in 2017, saw 70% of its released units snapped up during launch weekend at an average of $1,700 psf. With no major launches in the Bayshore vicinity since then, this GLS site is perfectly positioned to capture pent-up demand.