THE Government sold less land last year as the property market cooled and the financial crisis took hold but there are better expectations for the upcoming 12 months.
GOVERNMENT LAND SALESThe Singapore Land Authority (SLA) raked in $7.3 billion in sales for the 12 months to March 31, down from the previous year’s tally of $12.4 billion but up on the $6.2 billion collected two years ago.
The manager of state land and buildings said its revenue fell 8 per cent from $100.9 million in 2008 to $92.5 million.
‘The current economic condition has adversely affected the property market segment, resulting in a significant drop in land sales agency service, titles registration and land information businesses,’ said the SLA report out yesterday.
Apart from directly managing about 14,000ha of state land and about 5,000 state buildings, the SLA is also the national land registration authority for property transactions. Continue reading
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