Govt pares land supply for private homes amid demand and supply concerns

On an annual basis, this year's total supply of 12,905 units is the lowest since 2006's 8,990 units, going by data from Cushman & Wakefield data.THE government has tempered private housing supply from its land sales programme for the second half of the year, amid continued signs of muted demand and a glut in supply.

Explaining the decision to cut the confirmed list supply, the Ministry of National Development noted a"large supply" of around 44,000 private housing units in the pipeline that remain vacant, plus around 24,000 existing private housing units standing vacant. The market has also observed a moderation in demand among developers for private residential land, Cushman & Wakefield's senior manager for research Wong Xian Yang said.

All the confirmed list sites for H2 are residential, though just one of these - on Irwell Bank Road in River Valley - is a new site.

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