Singapore Awarded the Lorong Puntong Site at S$17,350 per Square Metre of Floor Area
Singapore's URA awarded the Lorong Puntong residential site on 18 September for S$208,099,000, or S$17,350.26 per square metre of gross floor area, on a 99-year lease.
The Urban Redevelopment Authority awarded the residential site at Lorong Puntong / Sin Ming Avenue on 18 September 2026 to Eco World Development (S) Pte. Ltd. for S$208,099,000. On the measure that matters to anyone pricing a future flat, that is S$17,350.26 per square metre of gross floor area, on a 99-year lease.
What the state actually sold
The site covers 4,283.4 square metres and carries a maximum permissible gross floor area of 11,994 square metres. Dividing one by the other gives a plot ratio of 2.8 — our arithmetic, from the authority's two published figures. The tender was launched on 25 June 2026 and closed on 15 September 2026.
Two things the release does not say are worth naming, because they are the two numbers most commonly attached to reports of this kind: the URA does not state how many bids were received, and it does not state how many housing units the site is expected to yield. Neither figure is published, so neither appears here.
Land is the one cost a developer can no longer change
A government land sale sets the floor under everything that follows. S$17,350.26 per square metre of floor area is committed before a single pile is driven, and construction, financing, marketing and margin all stack on top of it. That is why the per-square-metre-of-GFA figure, rather than the S$208 million headline, is the number that reaches the eventual buyer.
The 99-year lease matters in the same practical way. A Singapore leasehold flat is a wasting asset by design: the clock starts at the award and runs against every subsequent owner, which is why lease decay is a standard part of valuation here and not a footnote.
What Singapore looks like in our own data
This is the first Glopra article on Singapore, so the baseline is worth setting out. Our Singapore row is a High-confidence entry drawn from Savills: an average capital value of 22,446.40 dollars per square metre for a basket of luxury non-landed private homes, and an average rent of 52.21 dollars per square metre a month for a comparable high-end basket, both for the first quarter of 2026. That pairing gives a gross yield of 2.79%, or 2.22% after the 20.4% effective tax on a non-resident's rental income.
The number that decides foreign access, though, is not the yield. A foreigner buying any residential property in Singapore pays 60% Additional Buyer's Stamp Duty. Set against a 2.79% gross yield, that entry charge is worth roughly twenty-one years of gross rent before any other cost is counted. Foreigners may buy private condominium units freely; landed property requires approval from the Singapore Land Authority, and HDB flats, which house most of the population, are closed to them entirely.
One limit on our own figure: the Savills basket describes the luxury end of the private market, not the market as a whole, and it is first-quarter data. It is a fair reference point for a prime land award, and a poor one for the median Singaporean home.
Sources: Urban Redevelopment Authority of Singapore, Tender award for URA sale site at Lorong Puntong / Sin Ming Avenue, 18 September 2026 https://www.ura.gov.sg/news/media/pr26-66/
Market data: Singapore