Bishan New Condo 2026: Eco World Tops 7 Bids at Record $1,612 PSF PPR for Lorong Puntong

Eco World's record S$1,612 psf ppr bid for the Lorong Puntong / Sin Ming Avenue plot is the first new condo land parcel in Bishan since 2015, and at a likely launch of around S$3,000 psf it resets the price expectation for one of Singapore's most tightly held mature estates.

For eleven years, buyers who wanted a brand-new condo inside the Bishan planning area had nowhere to go. That changed on 15 September 2026, when a Malaysian developer paid a record land rate for a compact site off Upper Thomson. This Bishan new condo 2026 story is less about one tender and more about what a starved supply pipeline does to prices when fresh stock finally appears.

What Happened at the Lorong Puntong Tender

URA released the Lorong Puntong / Sin Ming Avenue plot on the Confirmed List, and the tender drew strong interest. According to URA's tender results, the site attracted seven bids, with Eco World Development emerging as the top bidder at S$208.1 million, or S$1,612 psf per plot ratio. The figures below are based on the tender that closed on 15 September 2026.

The plot itself is small. It spans 46,103 sq ft with a maximum permissible gross floor area of 129,093 sq ft, a gross plot ratio of 2.8 and a 99-year lease, and is expected to yield about 140 private homes. A compact site keeps the total quantum manageable, which is exactly why seven developers turned up rather than the four to six some consultants had forecast.

The winning number is not just high, it is lonely. Eco World's bid was the only offer to cross the S$1,600 psf ppr mark, and it came in 11.1% above the second-highest offer of S$187.33 million from the Hong Leong Holdings and TID joint venture. That is a gap of roughly S$20.77 million between the winner and the market's next-best view of the land, a spread a sole-bid tender can never reveal.

Why a Record Land Rate Matters for Bishan

The context is scarcity. The last GLS residential site awarded in the Bishan planning area was the 2015 plot that became Thomson Impressions, a 288-unit condominium along Lorong Puntong. Since then, new private launches in the immediate vicinity have been thin, with Jadescape in 2018 and the boutique freehold Artisan 8 in 2025 among the few additions.

The land rate also sets a regional record. Analysts note this is a new high for a Rest of Central Region residential site, edging past the benchmark set at Berlayar Drive six weeks earlier. For homeowners nearby, the practical takeaway is that a Confirmed List site goes to tender on a fixed date regardless of developer appetite, so this new stock was scheduled, not conditional on someone triggering it.

Land cost feeds directly into launch pricing. Based on the top bid, analysts estimate the future development could launch from around S$3,000 psf. Before you assume a nearby resale will automatically re-rate upward, it is worth reading our take on the RCR mid-market buyer's window, where resale has been absorbing a growing share of transactions precisely because new-launch pricing has stretched.

Location, Connectivity and the Buyer Pool

The site sits near Bright Hill MRT on the Thomson-East Coast Line, which is set to interchange with the future Cross Island Line around 2030, and next to Ai Tong School. It is ringed by established estates in Sin Ming and Bishan, plus a small landed enclave along Jalan Angklong and Jalan Tambur.

That geography shapes who buys. Industry commentary points to HDB upgraders from Bishan and Sin Ming, and landed downsizers, who want to stay within the same neighbourhood rather than move across the island. For a project of about 140 units, that is a focused, location-loyal pool rather than a broad investor market. If you are a Bishan flat owner weighing that jump, our guide on how to upgrade from HDB to condo without paying ABSD walks through the sell-and-buy sequencing that keeps you out of the 20% second-property charge.

Buyers also have alternatives in the same corridor. The much larger Thomson Reserve, a 1,268-unit development in Upper Thomson, is slated for October 2026 and will introduce a very different scale of supply. Note that measurement conventions differ across projects, so always check which floor-area basis a project uses before comparing sizes or psf across the harmonisation line.

What a $3,000 PSF Launch Costs a Buyer

At an indicative S$3,000 psf, the entry quantum depends entirely on unit size. A compact two-bedder around 530 sq ft lands near S$1.6 million, while a three-bedder around 900 sq ft lands near S$2.7 million. The stamp duty gap between the two is meaningful, and Buyer's Stamp Duty is charged progressively by band under the IRAS BSD schedule.

So a S$1.6 million two-bedder attracts S$49,600 in BSD, and a S$2.7 million three-bedder attracts S$104,600. A common error is stopping at the 4% band and forgetting the 5% band on any price above S$1.5 million, which understates the bill by tens of thousands. These figures assume a Singapore Citizen buying their first home, with no Additional Buyer's Stamp Duty. A citizen buying a second property would add 20% ABSD, which is S$540,000 on a S$2.7 million unit before any remission.

Financing scales the same way. A first housing loan is capped at 75% loan-to-value under the MAS LTV rules, dropping to 55% if the tenure runs past age 65 or beyond 30 years, and the monthly commitment must fit inside a 55% TDSR ceiling stress-tested at the 4% floor rate. Before you fall in love with a showflat, it pays to run your own affordability number so the price band you shortlist is one your income and TDSR can actually clear.

Opportunities Against the Risks

On the opportunity side, genuine new-launch scarcity in a mature, well-connected estate is rare, and a small 140-unit project can command a location premium from buyers who value staying put. Bishan's transport, schools and park make it a resilient hold, and the Cross Island Line interchange at Bright Hill adds a long-dated connectivity upside.

• Opportunity: first new condo in Bishan since 2015, a focused buyer pool, and strong estate fundamentals.
• Risk: a record land rate means a full launch price, so the upside is partly priced in on day one.
• Risk: a 99-year lease and a compact site with high-floor stacks, so views and unit mix will vary sharply within the project.
• Risk: a S$3,000 psf launch sits well above surrounding resale, so paying the premium assumes the neighbourhood re-rates.

The honest position is that a record land bid protects the seller of the land, not the buyer of the flat. Waiting for the actual launch price and the published floor plans costs you nothing, while buying a nearby resale today purely on the bet that this launch resets prices upward carries real downside if broader sentiment stays soft.

Run your own numbers: try the stamp duty calculator to work out your BSD and ABSD (free, no sign-up).

A single record land bid rarely changes your own plans on its own, but it does reset the price anchor for an entire estate, and that is exactly when a clear-eyed, independent read matters most. If you own in Bishan or Sin Ming and are weighing whether to sell, hold or upgrade into this coming launch, reach out to PropertyNet.SG for a personalised, numbers-first consultation that fits your timing, budget and financing rather than the headline.