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The government is holding land supply for private homes steady for the first half of 2020, which should keep the residential market stable amid a big supply of unsold units. It said on Tuesday that it will keep the supply of private housing units on the confirmed list for the H12020 government land sales (GLS) programme broadly similar to that for H22019.
The Ministry of National Development (MND) said: "The government will continue to monitor the property market and adjust the supply for future GLS programmes as necessary."
The confirmed list for H12020 has three new sites on it - two private residential sites (including an executive condominium or EC site), and a commercial and residential site.
Jointly, they can yield about 1,775 private residential units (including 600 EC units) and 22,000 sq m of gross floor area (GFA) of commercial space.
In the confirmed list in H22019, 1,715 private residential units were made available.
The MND said the supply of private housing units in the pipeline "remains high", at around 39,000 units currently, although the number has fallen over the past few quarters.
Real estate related news stories from Singapore
- BHG Retail Reit seeks to buy Beijing mall for S$455m
- Thakral buys Queensland property to grow its retirement housing portfolio
- Parkway Life Reit to buy three nursing rehabilitation facilities in Japan for 3.7b yen
- JTC adds Woodlands industrial park for tender in IGLS programme
- Hakka association selling 13 semi-detached houses in Bukit Timah at S$38m guide price
Asian property news round up
- Moon's property rules hurt South Korea's growth
- Builder of ex-1MDB project weighs IPO for as early as 2020
- Hong Kong’s SEA Holdings Said Buying London’s Sanctuary Buildings From Hana JV for £300M
- STP2A reclamation completed with maiden launch anticipated end 2020
- REI expects property to recover next year
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