Brand New Land’s NEOCO Bungalows at Lynwood Grove Are Fully Sold — Two Units Transact at $13m Each

Local landed property developer Brand New Land Group has sold all three bungalows in its NEOCO project at Lynwood Grove. The project was first marketed in October 2025, with each unit originally priced at $13.98 million.

Based on caveats on URA Realis, the sale of two of the bungalows have been lodged and Brand New Land confirmed the sale of the final unit on April 30. The bungalow at 15 Lynwood Grove, with a land area of 4,725 sq ft and a built-up area of 9,322 sq ft, was sold for $13 million ($2,751 psf) in March 2026.

The bungalow at 15B Lynwood Grove, with a land area of 4,795 sq ft and a built-up area of 9,392 sq ft, sold for the same price in the same month. The sale price translates to approximately $2,713 psf.

According to the developer, the final house at 15A Lynwood Grove – which has a land area of 4,758 sq ft and a built-up area of 9,355 sq ft – has also found a buyer, although the transaction has yet to be lodged.

The two caveated sales were completed within about five months of the project coming to market. The selling price for both of the lodged transactions came in at 7% below the original asking price of $13.98 million. This is not unusual for bungalow transactions at this quantum, where price negotiation is typical.

“The sale of the NEOCO bungalows are the result of a collective effort — shaped by every individual involved from start to finish. We now look forward to passing the baton to our buyers, who will bring these homes to life in their own unique ways,” says Alvina Teh, co-founder and managing director of Brand New Land.

The homes and their buyers

The collection of bungalows that make up NEOCO comprise three freehold detached houses at 15, 15A, and 15B Lynwood Grove in District 13. Each sits on a land plot of roughly 4,700 to 4,800 sq ft, with a built-up area of more than 9,300 sq ft across four levels.

The development drew on the aesthetic language of Singapore’s black-and-white bungalows, updated with contemporary specifications: reinforced concrete roofs, Euro-profile aluminium windows, and ceiling heights of 5.1 to 5.2 metres in the main living areas. Each house also comes with car porch space for around six vehicles and a 32A isolator point for EV charging.

For a full look at NEOCO’s design and specifications, read our earlier coverage of the project here.

In addition, the project is located in an established landed enclave off Lorong Chuan, where zoning restricts development to detached houses. This limits the supply of new homes and upholds the enclaves’ serene and quiet character, while still placing residents within a short drive of Junction 8 at Bishan and NEX at Serangoon. St. Gabriel’s Primary School, Yang Zheng Primary School, and First Toa Payoh Primary School are within one kilometre.

According to the developer, the three freehold bungalows drew buyers with no single profile in common. “The NEOCO bungalows found their way to those who felt a genuine connection — a special bond that made them feel at home. Through our handovers, we’ve come to realise there is no typical buyer profile,” says Teh.

She adds that this motivates the development team to create homes that are as special as the people who will own them.

Where the prices sit against recent District 13 transactions

Based on transaction data from URA, freehold detached houses on comparable land plots of between 4,000 and 6,000 sq ft in District 13 have fetched between $1,744 psf and $2,664 psf over the past 12 months. A freehold detached house elsewhere on Lynwood Grove sold for $8.81 million, or approximately $1,862 psf, in February 2025.

The NEOCO units, at roughly $2,713 to $2,751 psf, sit above that recent price range. But as newly completed developments which are curated by an experienced local landed developer, that price premium reflects the new build status and, in particular, the built-up area on offer.

Buyers in the resale market for a similar plot size would typically be acquiring older landed homes that usually require expensive renovation to bring the new development up to modern living and design benchmarks.

Overall, freehold landed properties in District 13 have historically appealed to families drawn to the area’s school catchment and relatively moderate quantum compared to prime districts, and the NEOCO pricing reflects that new builds with larger built-up areas can command a notable step up from the resale market.

For Brand New Land, the clean sellout marks a full exit from a small-batch project that tested buyer appetite for architect-designed, large-format bungalows at the upper end of the district’s market.

The developer says its focus remains unchanged regardless of where the market stands. Teh says: “Property cycles come and go. In every cycle, our purpose remains constant — to enrich lives, one home at a time. At its core, demand and supply underpin the enduring value of good landed homes”.