Category Archives: Property Market / Real Estate

Supply of private home sites in Singapore to go up

Posted on 6 Nov 2009 | Comments Off on Supply of private home sites in Singapore to go up

The Singapore government is boosting the supply of private residential sites in the first half of next year.

It has announced new sites for sale, which could yield over 10,500 homes – the highest number of units since the Government Land Sales (GLS) Programme started in the second half of 2001.

The Urban Redevelopment Authority (URA) said on Friday that in deciding supply, it looks at market conditions and medium-term demand.

Demand has been buoyant, with over 5,700 units sold in the third quarter of this year alone – more than the total number in 2008.

While demand has cooled off slightly, following high prices and moves by the government to curb a speculative bubble, observers believe the property market is on the mend.

For the whole of 2009, regular land sales through the confirmed list were suspended due to poor market conditions. But scheduled sales will resume next year, with a site in Buangkok being one of the largest on offer. Continue reading →

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Govt announces biggest half-yearly land sale programme since H2 2001

Posted on 6 Nov 2009 | Comments Off on Govt announces biggest half-yearly land sale programme since H2 2001

Singapore’s Ministry of National Development on Friday announced its biggest half-yearly land sales programme for the first half of 2010 since the reserve list system was started in H2 2001.

This follows very strong demand for private homes seen in the past eight months. This will ensure there will be enough supply to meet demand, Urban Redevelopment Authority’s senior group director, land sales and administration group, Choy Chan Pong said.

MND will be releasing eight private residential sites under the confirmed list in H1 2010, inclusive of two for executive condos, a hybrid between public and private housing. The eight sites will generate a total of 2,925 homes.

In addition, for the H1 2010 reserve list – where sites are launched for tender only upon successful application by developers – there will be 16 residential sites including three exec condo sites – and two mixed use sites where private homes can potentially be built. Of the 18 sites, six are new and 12 will be carried over from the current half’s reserve list. In total these 18 sites can be built into 7,625 homes. Continue reading →

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