Rare freehold site at 30 Mount Elizabeth hits market amidst luxury shortage

Ultra luxury demand rises whilst freehold land pipeline tightens around Orchard corridor.

A freehold residential site at 30 Mount Elizabeth in Singapore’s District 9 has been launched for collective sale at $580m, with the tender closing on 9 June 2026 at 3 p.m., according to ETC.

The site sits on a 4,422.8 square metre plot, or about 47,607 square feet, above the Orchard Road corridor and is zoned for residential use under the Urban Redevelopment Authority Master Plan 2025.

With a height control of up to 36 storeys, it offers redevelopment potential for a high-rise project with city skyline views.

The guide price translates to about $2,641 per square foot per plot ratio, after accounting for a 7% bonus floor area. No land betterment charge applies for redevelopment up to the baseline plot ratio of 4.45.

ETC said the last freehold residential site sold for a super-luxury condominium development was 21 Anderson in September 2021 at $213m, or $2,490 per square foot per plot ratio.

At 21 Anderson, 16 of 19 units have been sold at an average price of $4,932 per square foot, with the highest transaction at $5,347 per square foot for a 417 square metre unit in September 2025.

The wider luxury residential market recorded 17 transactions of homes priced at $10m and above in the first quarter (Q1) of 2026, compared with previous quarterly levels since Q1 2025.

The highest transaction was a 579 square metre unit at The Marq on Paterson Hill sold for $37m, or $5,937 per square foot, in January 2026.

Another sale at 21 Anderson in the same month reached $23.1m, or $5,146 per square foot, ETC said.

Swee Shou Fern, Head of Investment Advisory at ETC, said demand for luxury residential assets has increased amongst local and international buyers seeking long-term capital preservation.

The site is located near Orchard and Somerset MRT stations on the North-South Line and Thomson-East Coast Line, and is also close to the Central Expressway, which connects to the central business district and Changi Airport.

Schools within one kilometre include Anglo-Chinese School (Junior), whilst Singapore Chinese Girls’ School, St Joseph’s Institution Junior, and St Margaret’s Primary School are within two kilometres.