SINGAPORE - There will be a cut in the supply of private residential units from government land sales in the second half of the year due to a drop in demand and a large supply of homes, the Ministry of National Development said.
In its announcement of the second half of the Government Land Sales programme on Thursday , MND said the supply of private housing units on the confirmed list will be reduced. The private homes supply of 1,715 units from the confirmed list for the second half of the year works out to be about 15 per cent less than the for the first six months of 2019.
There are currently around 44,000 private homes in the pipeline, which MND said should"sufficiently cater to the housing needs of our population".The second half of the GLS programme comprises five confirmed list sites and eight reserve list sites. These sites can yield about 6,430 private residential units, 92,000 sq m gross floor area of commercial space and 1,100 hotel rooms.