Defying its fringe location and thin amenity map, the Miltonia Close executive condominium site in Yishun still drew a winning bid of S$340.9 million from Hoi Hup Realty, or S$732 psf per plot ratio — a figure that landed near the top end of analysts’ pre-tender expectations and tells me developers still see real depth in northern upgrader demand, even when the nearest MRT station, Khatib, is nearly 2km away. The land rate also set a Yishun record for EC site bids in the planning area.
Even nearly 2km from Khatib MRT, Miltonia Close pulled a near-top-end bid that signals sturdy northern upgrader demand.
Only three bids came in when the tender closed on 14 April 2026, which usually signals caution. Yet the spread between bids wasn’t wild. Intrepid Investments and TID Residential offered S$312 million, or S$670 psf ppr, while a Forsea-CNQC-Jianan-CYZ Land consortium submitted S$305.5 million, or S$656 psf ppr. To me, that says the market broadly agreed on value, even if many big-name developers sat this one out and chased more central plots instead. Hoi Hup’s offer was 9.2% higher than the second-highest bid, underscoring a clear conviction call rather than a marginal win.
The site spans 15,451 sq m and can yield about 430 homes from a gross floor area of 43,264 sq m. For context, Hoi Hup’s land rate sits below Sim Lian’s S$794 psf ppr paid for the Woodlands Drive 17 EC site earlier this year, but well above North Gaia’s S$576 psf ppr in 2020. That gap captures how much EC demand and pricing power have shifted. Notably, median EC prices across Singapore have climbed from S$1,538 psf in 2024 to S$1,700 psf in 2025, reflecting the broader confidence underpinning these land bids.
Here’s the contrarian point: distance from MRT isn’t always the deal-breaker people assume in the EC market. Many buyers in Yishun, Sembawang and Woodlands already live car-lite but not car-free lives, and they’re shopping for space, status and a smoother step into private-style housing. A project here can still feel like home if the developer gets transport links, childcare and daily conveniences right.
