THERE is no need to rush to buy homes, now that a slew of land parcels will be released to private developers in the first half of next year.

That was the assurance given on Saturday by National Development Minister Mah Bow Tan. Similarly, he assured developers that they will have a variety of sites to choose from, with some up for grabs as early as January.

He was speaking to reporters a day after the Government announced that at least eight residential sites - and as many as 26 - will be offered to developers.

It made the move to allay fears of a shortage of homes in the private property market that may have sent prices surging to levels seen in the previous boom.

Five of the 26 sites are for executive condominiums, to cater to the 'sandwiched group', Mr Mah said.

These are people who do not qualify for new HDB flats because they earn more than the $8,000 monthly-income cap, but who may find private property too expensive.

Read the full story in tomorrow's edition of The Sunday Times.