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Government keeps steady supply of private housing for first half of 2020 land sales programme

Government keeps steady supply of private housing for first half of 2020 land sales programme.

SINGAPORE - The Government has kept largely unchanged the amount of private residential housing under the government land sales (GLS) programme for the first half of 2020, in view of the supply overhang and as developers' bids for land moderated after property cooling measures.

"The Government will continue to monitor the property market closely and adjust the supply for future GLS programmes, as necessary," the Ministry of National Development (MND) said in an announcement on Tuesday morning (Dec 3).

The new supply consists of three confirmed list sites and eight reserve list sites that can yield about 6,490 private homes, 114,000 sq m gross floor area (GFA) of commercial space and 1,070 hotel rooms.

To read more: https://www.straitstimes.com/business/property/government-keeps-steady-supply-of-private-housing-for-first-half-of-2020-land

Adapted from The Straits Times 3rd December 2019