Supply of private homes from confirmed government land sales up 7.4% for first-half of 2017

A view of public housing (HDB) and private housing in Toa Payoh, in the central region of Singapore.
A view of public housing (HDB) and private housing in Toa Payoh, in the central region of Singapore. ST PHOTO: KUA CHEE SIONG

SINGAPORE - The supply of private homes from confirmed government land sales is set to go up in the first-half of 2017.

On the Confirmed List are five private residential sites which can yield 2,330 units, higher than the supply of 2,170 units from confirmed sale sites in the second half of this year, the Ministry of National Development (MND) announced on Friday (Dec 16).

But the supply of 2,330 units from the Confirmed List under Government Land Sales (GLS) Programme for 1H 2017 is closer to the final 2,445 units resulting from government land sales in the second-half of this year after the sale of a reserve list site in December was triggered, MND noted.

It has also put on the Reserve List for 1H 2017 seven private residential sites, including one for executive condominiums, one commercial & residential site and two commercial parcels. These sites can yield 5,135 private homes (including 775 EC units) and 158,080 sq m in gross floor area of commercial space, mostly for office use.

The supply of 5,135 units from the Reserve List is similar to the 5,375 units from the 2H 2016 Reserve List.

Together, the Confirmed and Reserve list sites can yield up to 7,465 private homes.

"Overall, the total supply of 7,465 units from the 1H 2017 GLS Programme is comparable to the supply of 7,545 units from the 2H 2016 GLS Programme," said MND.

It added: "The demand for new housing from prospective home-buyers has remained healthy in 2016. The continued supply of residential sites through the GLS Programme will ensure that there is a steady pipeline of new private housing units to meet the needs of our resident population."