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Government increases supply of land for private housing

The supply of private housing units in the second half of 2017 is up slightly from the first six months.

Posted on 29-Jun-2017

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Government increases supply of land for private housing

The supply of private housing units in the second half of 2017 is up slightly from the first six months.

The six sites on the Government Land Sales Programme's confirmed list for the second half of 2017 include four private residential sites, one of which is an executive condominium site, the Ministry of National Development said on Thursday (June 29). The other two sites on the confirmed list are commercial and residential sites.

In all, the confirmed list yields 2,840 private housing units, 510 units or about 22 per cent more than the supply of 2,330 units in the first half-year.

This arises from a need to ensure adequate pipeline supply of new private housing units, the ministry said, adding: "As the demand for new private housing from home buyers continued to rise in the first half of 2017, the number of unsold private housing units in the pipeline has declined.

There are also nine private residential sites and one commercial site on the reserve list, for another 5,285 private residential units.

The Straits Times

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