Kenny's Take
Kallang Trivista's new 4-room record is the more interesting of today's two records, because it isn't about a better unit — a lower-floor flat just broke the ceiling set by a higher one three years ago, which tells you the project's whole price floor has shifted, not just its best stack. The 153 Kampong Ampat result is the same story one level up: a freehold industrial site clearing 16% above an already-tested guide price, with three distinct buyer types competing for it, says land scarcity is now pulling in buyers who wouldn't normally bid against each other. SORA's quiet fourth straight weekly rise is the detail easy to miss under two records — if you're on a floating package and have been waiting for a dip to lock in, the direction of travel argues for moving sooner rather than later. None of these are dramatic in isolation, but together they describe a market where price floors are rising across HDB resale, industrial land and borrowing costs at the same time.
🏘️ Kallang/Whampoa's 4-Room Resale Record Quietly Resets
- A 4-room flat at Kallang Trivista changed hands for $1.32 million ($1,251 psf), setting a new high for 4-room resale flats in Kallang/Whampoa. It edges past the previous record of $1.301 million ($1,233 psf), set by a different unit in the same project back in October 2023.
- What makes the result notable is the floor: the new record unit sits roughly nine floors lower than the one it replaced, yet still commanded more money both in absolute price and per square foot. For a market where the top floor usually carries the premium, that's a sign the project's broader price level has moved up, not just its best stack.
- For anyone holding or buying into Kallang Trivista, or benchmarking a nearby Kallang/Whampoa unit against it, the comparison worth running now is against this lower-floor transaction rather than the three-year-old ceiling price — it's the more current read on where the market actually sits.
🏭 Freehold Industrial Site Draws a Three-Way Bidding War
- 153 Kampong Ampat, a freehold B1 multi-user industrial building near Tai Seng MRT, sold en bloc for $121.8 million — 16% above its $105 million guide price. Knight Frank, which brokered the deal, said interest came from three distinct buyer profiles: industrial developers eyeing strata redevelopment, owner-occupiers wanting a sizeable freehold base for their own operations, and investors studying the site for workers' dormitory conversion.
- The buyer has not been publicly named. A 16% premium over guide on a freehold industrial site is a meaningful result in a segment where land is scarce and leasehold stock dominates — a useful comparison point for anyone holding similar freehold B1 assets in the Tai Seng / MacPherson belt.
💰 Rates & Macro
- 1-month compounded SORA is holding around 1.356%, 3-month around 1.316% and 6-month around 1.222% as of 4 November — a fourth consecutive weekly tick up off this year's cycle lows. Competitive mortgage spreads of 0.50–1.00% over 3-month SORA still put effective floating rates in the 1.8–2.3% range, but UOB's latest forecast has 3-month SORA drifting toward roughly 1.40% by the end of 2026 and 1.63% by the third quarter of 2027.
🔭 What I'm Watching
- The Jurong Lake District Town Hall Link GLS tender, closing 17 November 2026 — up to 1,200 homes plus 40,000 sqm of office space, with bids expected in the $1,100–$1,200 psf ppr range.
- Whether November's record BTO exercise pulls an application rate meaningfully above the 3.2–3.4 times seen in the February and June 2026 rounds, now that income ceilings have risen — applications close 11 November 2026.