Tag Archives: Market Report

Mah says govt may bring confirmed list back next year as demand returns

There is a ‘definite possibility’ that the government will re-introduce land sales through its confirmed list system from next year, Minister for National Development Mah Bow Tan said yesterday.

Skygarden: Mr Mah yesterday launched the final skybridge at the Pinnacle @ Duxton, the tallest HDB project

Right now, it is ‘a question of how much we put on the confirmed list’, he added.

Mr Mah was speaking to reporters at the launch of the final skybridge at the Pinnacle @ Duxton, Singapore’s tallest public housing project. The project will be completed in December 2009.

Sale of state land under the confirmed list was suspended for the first half 2009 Government Land Sales (GLS) Programme to help stave off oversupply risk as the property market here was then on a downtrend.

Instead, state land was only made available under the ‘reserve’ list system for H1 2009 and H2 2009.

Under the reserve list system, the government releases a site for sale only if an interested party submits an application with a minimum price that is deemed acceptable.

By contrast, land parcels under the confirmed list will be tendered according to scheduled dates – which could translate to more residential property launches. Continue reading →

THINK THRICE

‘Before you buy a property, you must remember three things – think, think and think… Think carefully, Think long term, Think about the unexpected.’

Mr Mah’s advice to home buyers

‘Every likelihood’ the Govt will reintroduce confirmed list of land sites, says Mah

The Pinnacle@Duxton has 1,848 units, of which 111 are unsold. The final skybridge at Singapore’s tallest public housing project was launched yesterday. — ST PHOTO: CHEW SENG KIM

THE Government is mulling over how much land to release for sale – a move industry experts see as a signal it is ready to act if the highly buoyant property market overheats.

National Development Minister Mah Bow Tan said yesterday there was ‘every likelihood’ the Government would reintroduce the confirmed list of land sites, which was suspended last October. Continue reading →