Government may offer several land sites for sale at one go
This may moderate developers' bids and help rein in home prices
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Construction sites in Punggol, taken on Oct 5, 2012. In a bid to rein in rising property prices, the Government is looking at offering multiple sites for sale to developers in a given area at around the same time. The URA said the first trial could be tenders for three EC sites. One is in Yuan Ching Road, Jurong, and the other two in Punggol Central and Punggol Drive. They are on the Housing Board's GLS list of sites confirmed for sale in the first half of the year. -- ST FILE PHOTO: NURIA LING
In a bid to rein in rising property prices, the Government is looking at offering multiple sites for sale to developers in a given area at around the same time.
The idea is that if a few sites near each other - or possessing other common features - are offered in one go, developers may put in lower bid prices, which may mean lower home prices in the long run.
The Urban Redevelopment Authority (URA) flagged this possible tweaking of the Government Land Sales (GLS) programme earlier this week.
"Many have suggested that batching land tenders may help to moderate tender bids and hence subsequent property prices," it told The Straits Times.
