SINGAPORE – Loyang Valley condominium in Changi will be making a third attempt at a collective sale, with a reduced reserve price of $880 million.

The lower reserve price, which is $100 million less than its last tender in 2022, “reflects a realistic and achievable figure given current market conditions”, said Mr Terence Lian, head of investment sales for the appointed marketing agent, Huttons Asia.

In 2022, the collective sale committee initially proposed a reserve price of $880 million but raised it to $980 million after some owners sought higher returns. No bids were received when the tender closed on Dec 15 that year.

In May 2025, Mr Lian and his team of property salespeople successfully obtained the requisite 80 per cent mandate to proceed with the collective sale.

The public tender for Loyang Valley is expected to launch on July 8 and close on Aug 26.

The 362-unit condominium in Changi, built in 1985, is a sprawling resort-style estate spanning 840,648 sq ft, with 56 years remaining on its 99-year lease.

This round marks a significant shift in seller expectations, noted Mr Lian.

“Several factors have motivated owners to support the collective sale, including lease decay, ongoing maintenance issues associated with the ageing property, the opportunity to unlock asset value with a premium, and considerations related to legacy planning,” he said.

“The confirmed Cross Island Line’s Loyang MRT station was factored into our analysis and positively influenced the site’s future potential.”

At $880 million, the owner of the smallest two-bedroom unit of 1,001 sq ft stands to receive about $1.67 million, while the owner of the largest four-bedroom unit can get about $3.9 million, he said.

One owner, who has been living in Loyang Valley since 1985, told The Straits Times that he expects to get more than $2 million for his 1,500 sq ft unit.

The retiree, who asked not to be named, had paid less than $300,000 for his unit. He said he plans to use the proceeds to buy a four-room Housing Board flat in the vicinity, go on holidays and save the rest.

“I have a feeling the sale will go through this time, after the Government announced that it will lift the height restrictions for buildings around this area,” he said.