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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