# Singapore: all six owners back a S$17.5 million Joo Chiat Terrace sale

A six-unit freehold block in Joo Chiat Terrace is on the market with every owner signed up. Its land rate, two tenders closing on 23 October and the law still pending.

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A freehold block of six apartments in Joo Chiat Terrace, in the east of Singapore, has been put up for collective sale at S$17.5 million, EdgeProp reported on Monday 5 October 2026. All six owners have agreed to sell, according to the two firms marketing the site, AlpsEdge Real Estate and Brilliance Capital, and the tender closes at 3pm on Tuesday 17 November.

It is a small deal in a market that usually makes headlines for towers and estates of several hundred homes. It is also a tidy one: six owners, six signatures, no minority to persuade. That matters this autumn, because Parliament passed a law in September that will change how many owners must agree before an older development can be sold, and the law has not yet been brought into force. Two other collective sale tenders, both larger, close on Friday 23 October.

<div class="keyfacts">
<div><b>S$17.5m</b><span>price sought for the freehold site</span></div>
<div><b>6 of 6</b><span>owners who have agreed to sell</span></div>
<div><b>17 Nov</b><span>tender closes, at 3pm</span></div>
</div>
<p class="src">EdgeProp, 5 October 2026, citing the marketing firms AlpsEdge Real Estate and Brilliance Capital.</p>

## What is being sold in Joo Chiat Terrace

The site covers about 10,247 sq ft, EdgeProp reports. It holds a three-storey block built in 1987, with six apartments. The land is zoned residential with a gross plot ratio of 1.4, which means a buyer may build floor area equal to 1.4 times the land: about 14,346 sq ft on these figures.

Dividing the price by that buildable area gives the measure developers compare sites on, the price per square foot per plot ratio, written psf ppr. At S$17.5 million the rate comes to about S$1,220 psf ppr, the figure the marketing firms give.

The report does not say how many homes a new building could hold, what height applies, or whether any charge would be payable to the state for redevelopment. Those points depend on the planning rules for the site and on the buyer's own scheme, and nothing has been published on them. The S$17.5 million is the price at which the site was launched; EdgeProp does not describe it as a reserve price, so the figure is the owners' stated expectation, and the tender will show what buyers think.

Joo Chiat and the neighbouring Katong area are known for low-rise streets and older houses. EdgeProp places the site within 1 km of two primary schools and close to two shopping centres and East Coast Park, the usual selling points of a home in this part of the island.

## The land rate against three recent deals

The marketing firms describe the asking rate as in line with three freehold sales nearby, which EdgeProp lists. A detached house in Joo Chiat Terrace itself changed hands for S$21.5 million in December 2024. Three terraced houses on Tanjong Katong Road were sold together for S$10.86 million in March 2025. Chiku Mansions, on Chiku Road, went for roughly S$22 million in September 2025 to the developer Macly Group.

<figure class="fig"><figcaption><b>The asking rate and three earlier freehold deals nearby</b><span>S$ per square foot per plot ratio</span></figcaption>
<div class="scroll"><svg viewBox="0 0 680 196" role="img" aria-label="Bar chart of land rates in Singapore dollars per square foot per plot ratio: Joo Chiat Terrace block, asking, 1,220; Joo Chiat Terrace house, December 2024, 1,175; Chiku Mansions, September 2025, 1,168; Tanjong Katong Road terraces, March 2025, 1,110.">
<text class="lb" x="176" y="33" text-anchor="end">Six-unit block, asking</text><rect class="bar" x="190" y="14" width="400" height="28" rx="4"/><text class="lb" x="600" y="33">S$1,220</text>
<text class="lb" x="176" y="79" text-anchor="end">House, Dec 2024</text><rect class="bar" x="190" y="60" width="385" height="28" rx="4"/><text class="lb" x="585" y="79">S$1,175</text>
<text class="lb" x="176" y="125" text-anchor="end">Chiku Mansions, 2025</text><rect class="bar" x="190" y="106" width="383" height="28" rx="4"/><text class="lb" x="583" y="125">S$1,168</text>
<text class="lb" x="176" y="171" text-anchor="end">Terraces, Mar 2025</text><rect class="bar" x="190" y="152" width="364" height="28" rx="4"/><text class="lb" x="564" y="171">S$1,110</text>
</svg></div>
<p class="src">EdgeProp, 5 October 2026, from figures supplied by the marketing firms. The first bar is an asking rate; the other three are completed sales.</p></figure>

Read side by side, the asking rate sits above all three: about 4 per cent over the two dearest of them and about 10 per cent over the terraces. "In line with" is the sellers' reading. A buyer may weigh the same numbers differently, and may also note that the three deals are not alike. One was a single house, one a row of three houses and one an apartment block, each with its own shape, frontage and planning limits, and the oldest of them is nearly two years old.

What the comparison does show is a narrow band. Three freehold plots within a short distance of one another sold at between S$1,110 and S$1,175 psf ppr between December 2024 and September 2025. The six owners are asking a little more than the top of that band.

## What new flats nearby sell for

A land rate means something only next to the price of the homes built on it. Here the evidence is unusually close to hand. The detached house sold in December 2024 has become Verdé Joo Chiat, a five-storey project of 18 homes that is still under construction. Nine of the 18 have been sold since its launch in May, at S$2,278 to S$2,484 per square foot, according to EdgeProp.

Two other small freehold projects in the area, Straits at Joo Chiat with 16 homes and Koon Seng House with 17, were both launched in 2024 and are fully sold, with prices of around S$2,000 to S$2,350 per square foot. Carin Puah, executive director at AlpsEdge, is quoted by EdgeProp as seeing "encouraging take-up for small, low-rise boutique projects" in the two neighbourhoods.

Set against the Verdé Joo Chiat prices, the S$1,220 asking rate is about half of what new homes fetch in the same street. The other half has to cover construction, financing, stamp duties, marketing and the developer's margin, none of which is given in the report. Half of Verdé Joo Chiat's homes also remain unsold some five months after launch, so the price range rests on nine sales.

## Two larger tenders close on 23 October

The Joo Chiat Terrace block is the smallest of three collective sale tenders that EdgeProp has reported as open this month. The other two are marketed by Knight Frank Singapore and close on the same day.

<figure class="fig"><figcaption><b>Three collective sale tenders open in October 2026</b><span>As launched; prices are those sought by the owners</span></figcaption>
<div class="scroll"><table class="tbl">
<thead><tr><th>Property</th><th>What it is</th><th>Price sought</th><th>Tender closes</th></tr></thead>
<tbody>
<tr><td>Kampong Ampat building</td><td>Freehold seven-storey industrial building, 43,354 sq ft of land</td><td>S$105 million</td><td>23 October, 10am</td></tr>
<tr><td>Trendale Tower, Cairnhill Road</td><td>Freehold block of 18 apartments, 21,709 sq ft of land</td><td>S$168 million</td><td>23 October, 3pm</td></tr>
<tr><td>Joo Chiat Terrace block</td><td>Freehold block of six apartments, about 10,247 sq ft of land</td><td>S$17.5 million</td><td>17 November, 3pm</td></tr>
</tbody>
</table></div>
<p class="src">EdgeProp reports of 28 September, 16 September and 5 October 2026.</p></figure>

The industrial building stands in the Tai Seng and MacPherson area on land zoned Business 1 with a plot ratio of 2.5. Its existing floor area of about 114,969 sq ft is slightly more than that ratio would give on the site today, and the rate Knight Frank quotes, about S$913 psf ppr, is worked out on the existing floor area. The authorities have indicated support for use as a workers' dormitory, subject to a detailed proposal being approved. EdgeProp sets the launch against a run of freehold industrial sales earlier in 2026: S$72 million for a building in Mandai Estate in May, S$71 million for one on New Industrial Road in June, and S$950 million for Tan Boon Liat Building on Outram Road in July.

Trendale Tower is a different kind of asset again: a 20-storey block completed in 1982, a five-minute walk from Newton station. Knight Frank puts its rate at about S$2,248 psf ppr after allowing for bonus floor area for balconies. The firm says the planning authority has indicated support for use as serviced apartments, so a buyer could keep the building and let it instead of knocking it down. Neither EdgeProp report says what share of the owners has signed.

The three have little in common beyond the sale method: a workshop building, a city tower and a suburban walk-up. Together their owners are seeking S$290.5 million.

## Why unanimity shortens the road

The marketing firms make one point about procedure. Because every owner has consented, they say, the sale avoids "the prolonged statutory process" of obtaining collective sale approvals.

That process exists for the harder case, where most owners want to sell and some do not. The Ministry of Law's summary of the regime, published on 4 August 2026, describes it as collective sale by majority consent. A development under ten years old needs owners holding 90 per cent to agree, and an older one 80 per cent. The sale committee has 12 months to gather signatures on the collective sale agreement. The Bill passed in September shortens that period and adds safeguards around it, which is a measure of how contested the majority route can be.

With six owners in agreement, none of that is in play. For a buyer, the practical difference is certainty of timing: there is no dissenting owner whose objection could delay or stop completion. For the owners, there is no signature count to chase and no deadline for reaching it.

Size explains much of it. Six households can each be asked in person. The thresholds in the law are written for developments where full agreement cannot realistically be expected, and they rise or fall with the age of the building, not with the number of homes.

## A law passed in September, not yet in force

The Land Titles (Strata) (Amendment) Bill 2026 was passed by Parliament on 8 September, according to an analysis by the agency SRI published by EdgeProp on 1 October. It adds two lower thresholds: 70 per cent for developments aged 40 to 59 years and 65 per cent for those aged 60 and over. It also halves the signature period to six months. The changes take effect on a date the minister has yet to appoint.

The three tenders sit differently against those age bands. The Joo Chiat Terrace block, built in 1987, is about 39 years old and so falls in the band where nothing changes. With every owner signed, the question does not arise anyway. Trendale Tower, completed in 1982, is about 44 years old and belongs to the band whose threshold will fall from 80 to 70 per cent. Its tender was launched under the rules that apply today.

<div class="callout"><span class="mono">Transition rule</span><h4>The first signature decides which rules apply</h4>
<p>The Ministry of Law said on 4 August 2026 that most changes apply only where the first signature on a collective sale agreement has not been obtained by the commencement date. Where it has, the existing framework continues. Committees still collecting signatures at that date may end their agreement and start a new one, with seven months to reach the threshold.</p>
</div>

SRI's own analysis looked at the other end of the market. Of 71 private developments with at least 700 homes, it counted four aged 40 to 59 years and none aged 60 or more, and concluded that a lower threshold does not by itself make a sale happen: the price owners want and the sums a developer can make still decide it. The same test applies to a six-unit block, only with fewer people in the room.

## The dates that follow

Three closing times are fixed. The Kampong Ampat tender closes at 10am on Friday 23 October and the Trendale Tower tender at 3pm the same day. The Joo Chiat Terrace tender closes 25 days later, at 3pm on Tuesday 17 November, 43 days after the launch was reported.

A tender closing is not a sale. The owners still have to accept an offer, and none of the three reports says how or when a result will be announced. No date has been announced for the new collective sale rules to start.