Loyang Valley, a 40-year-old condominium in Singapore’s eastern Changi region, has launched its third collective sale attempt with a reserve price of S$880 million, reflecting a significant recalibration from its previous asking price of S$980 million in 2022. The 99-year leasehold development, comprising 362 apartments spread across an 840,648 square foot plot with 56 years remaining on its lease, has positioned itself strategically to capitalize on a notable supply gap in new property launches within the Loyang area.
The current collective sale attempt follows two unsuccessful bids, with the initial effort in 2018 carrying a reserve price of S$750 million that failed to secure sufficient owner support, while the second attempt in 2022 at S$980 million attracted no bids by the tender closing date. The revised S$880 million reserve price translates to a land cost of S$936 per square foot per plot ratio (psf ppr), inclusive of an estimated S$221 million Land Betterment Charge and approximately S$245 million for lease upgrading premium with a 7% bonus balcony gross floor area.
Subject to planning approvals, potential developers could construct approximately 1,249 new residential units averaging 1,076 square feet each, aligning with eastern Singapore’s ongoing infrastructure investments and improved connectivity. The site’s proximity to key economic zones offers residents convenient access to industrial hubs like Aviation Logistics Park and Changi Business Park. The recent relaxation of airport height restrictions could significantly boost the development potential of the site. The three-year absence of new condominium launches in the area has created substantial pent-up demand, presenting an attractive opportunity given the reasonable land pricing and supply constraints.
The tender for Loyang Valley‘s collective sale opens on July 8, 2025, and closes on September 9, 2025, with success contingent upon developer appetite, economic conditions, and regulatory approvals. For current owners, the sale represents an opportunity to address concerns regarding lease decay, rising maintenance costs, and potential property value stagnation, while providing substantial liquidity and a clear exit strategy before further lease depreciation impacts property appreciation potential.
The collective sale environment remains active, as evidenced by Thomson View‘s recent S$810 million transaction, suggesting cautious optimism for Loyang Valley’s prospects in this third attempt. The current market conditions are encouraging, with the Outside Central Region showing an 11.83% price increase in Q1 2024, potentially boosting investor confidence in developments like Loyang Valley.
