Will latest GLS supply injection cure private home buyers of Fomo?

SINGAPORE – The

beefing up of private-housing land supply

announced this past week signals the Government’s intent to ensure a sustainable property market, while assuring Singaporeans that there is adequate supply to meet housing needs. But the latest land injection is not expected to have an impact on current prices, as potential launches will hit the market only in 2025.

“As underlying demand remains resilient and continues to grow, pushing out new housing supply could mitigate a potential sharper increase in prices when market conditions recover,” said Mr Wong Xian Yang, head of research for Singapore and South-east Asia at Cushman & Wakefield.