Revenue from government land sales fell 41 per cent to S$7.3 billion in the last fiscal year ended March 2009.
But analysts said despite the decline for the full year, land prices have actually risen 30 per cent in the past six months and there are some concerns that this could lead to another property bubble.
Showflats have been packing in the crowds for many months now.
Demand for land has also picked up, with more plots released for tender since April this year.
Analysts expect demand for land to grow in 2010 on the back of more positive market sentiment and developers looking to beef up their land bank.
In the first quarter next year, observers said the government could release more strategic sites at Jurong Lake District, Kallang Waterfront and Rochor/Ophir Road.
And when the government brings back the Confirmed List of sites in the first half of next year, more land will be on the market.
According to market watchers, the net effect is that revenues from such sales are likely to stay around S$7 billion in the current fiscal year to March 2010, similar to last year. Continue reading
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