Property developers in Singapore are calling for the government to release more land sites in less central areas so that they can build more affordable mass market homes.
On the sidelines of a lunch hosted by the Real Estate Developers’ Association of Singapore (REDAS) on Friday, industry players said demand for private homes will continue to rise and push up prices.
It said most of the recent residential sites released for tender have been in “hotspot” areas. These are places located near MRT stations and other neighbourhood amenities, and cost more than those located further away.
REDAS has since requested for the Urban Redevelopment Authority to release a more even spread of sites.
Simon Cheong, president of REDAS, said: “There is an adequate number of sites now, to be honest. But perhaps in the next confirmed list, we’ll have sites that are more spread out across the island for developers to pick from.
“Land that is not in an MRT area or in a ‘hotspot’ probably would have a lower price, so the developer would have a better choice for homebuyers. In other words, more affordable land for developers will mean more affordable products for the consumers.” Continue reading
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