mr funny
03-07-07, 04:40
Published July 3, 2007
Govt to ensure sufficient supply of homes: URA
By KALPANA RASHIWALA
(SINGAPORE) In a departure from tradition in recent years, the Urban Redevelopment Authority (URA) yesterday commented on the state of the private residential market when it released the latest price indices.
It also seemed to have some advice for potential home buyers who may be carried away by the current market frenzy.
The departure is seen in industry circles as reflecting official concern about the run-up in private residential prices which, as yesterday's flash estimates show, is no longer confined to just the luxury segment but has spread to other segments as well.
'The government will continue to monitor the market very closely,' URA said yesterday. Its subsequent elaboration dwelt on measures to ensure there is sufficient supply of homes, without even a hint of any possible measures to tackle demand, or subsales, market watchers noted.
URA said: 'The government will ensure that there will be sufficient supply of residential space to meet demand. The GLS (Government Land Sales) Programme for the 2nd half of 2007, which was just announced recently, comprises 20 residential sites and five other commercial and residential, and white sites which have a potential supply of about 8,000 units of private housing and executive condominium (EC) housing.'
The government has also re-introduced an EC site to give an additional housing option to Singaporeans. 'If necessary, the government will make available even more sites for private residential development through the GLS Programme next year,' URA said.
The authority reiterated that besides new GLS sites, there are some 42,200 new private homes slated for completion from H2 2007 to 2010. About 22,700 of these units have not been sold by developers yet.
'Prospective home-buyers should take into consideration the sufficient pipeline supply of private housing, as well as the potential supply from GLS sites, when deciding to make a property purchase,' URA said.
In its release, URA also gave its take on the rise in private home prices in recent quarters, which it said is 'in line with greater economic growth and rising confidence'.
'Private housing prices are now increasing at a faster pace because of good economic prospects going forward and the increasing attractiveness of Singapore as a global city,' it added.
Govt to ensure sufficient supply of homes: URA
By KALPANA RASHIWALA
(SINGAPORE) In a departure from tradition in recent years, the Urban Redevelopment Authority (URA) yesterday commented on the state of the private residential market when it released the latest price indices.
It also seemed to have some advice for potential home buyers who may be carried away by the current market frenzy.
The departure is seen in industry circles as reflecting official concern about the run-up in private residential prices which, as yesterday's flash estimates show, is no longer confined to just the luxury segment but has spread to other segments as well.
'The government will continue to monitor the market very closely,' URA said yesterday. Its subsequent elaboration dwelt on measures to ensure there is sufficient supply of homes, without even a hint of any possible measures to tackle demand, or subsales, market watchers noted.
URA said: 'The government will ensure that there will be sufficient supply of residential space to meet demand. The GLS (Government Land Sales) Programme for the 2nd half of 2007, which was just announced recently, comprises 20 residential sites and five other commercial and residential, and white sites which have a potential supply of about 8,000 units of private housing and executive condominium (EC) housing.'
The government has also re-introduced an EC site to give an additional housing option to Singaporeans. 'If necessary, the government will make available even more sites for private residential development through the GLS Programme next year,' URA said.
The authority reiterated that besides new GLS sites, there are some 42,200 new private homes slated for completion from H2 2007 to 2010. About 22,700 of these units have not been sold by developers yet.
'Prospective home-buyers should take into consideration the sufficient pipeline supply of private housing, as well as the potential supply from GLS sites, when deciding to make a property purchase,' URA said.
In its release, URA also gave its take on the rise in private home prices in recent quarters, which it said is 'in line with greater economic growth and rising confidence'.
'Private housing prices are now increasing at a faster pace because of good economic prospects going forward and the increasing attractiveness of Singapore as a global city,' it added.