reporter2
16-12-21, 14:33
MND increases confirmed list private housing supply (including ECs) by 39% but clips reserve list supply
Dec 16, 2021
https://i.imgur.com/JqsPhaX.png
THE Ministry of National Development (MND) on Thurday (Dec 16) announced that it is increasing the supply of private housing in the confirmed list of the Government Land Sales (GLS) Programme for first-half 2022 to 2,785 units (including 495 executive condo or EC units). This is 39 per cent higher than the 2,000 units (including 375 EC units) in the current H2 2021 GLS Programme.
ECs are a public-private housing hybrid.
Confirmed list sites are launched for sale according to schedule regardless of demand.
On the reserve list, where sites are launched only upon successful application by a developer or when there is sufficient market interest, MND will release land for 3,715 units (including 700 EC units) in H1 2022. This is 24 per cent lower than the 4,860 units (including 700 EC units) in the H2 2021 programme.
The combined supply from both confirmed and reserve lists for H1 2022 will be 6,500 units (including EC units), which is 5 per cent lower than the 6,860 units (including ECs) in the current H2 2021 programme.
https://i.imgur.com/odpRyLJ.jpg
MND said in its release: "The private housing market has been buoyant, with transaction volumes and prices on the rise over the past year, in spite of the economic impact of the Covid-19 pandemic. The inventory of unsold private housing units has also declined. To ensure that there is sufficient supply of private housing to meet demand and ensure market stability, the government has decided to increase the supply of private housing on the confirmed list to 2,785 units for the H1 2022 GLS Programme, from 2,000 units for the H2 2021 GLS Programme, and is prepared to step up supply further if demand remains strong.
"At the same time, the additional supply on the reserve list will give developers a good selection of sites to initiate for development if they assess that there is demand."
There will be no supply of commercial space or hotel rooms from the H1 2022 confirmed list, same as for the current half.
The H1 2022 reserve list will supply 90,000 square metres of commercial space and 530 hotel rooms, which is also the same as in the current half.
MND noted that the white site at Woodlands Avenue 2 for a mixed-use development will be carried over from the H2 2021 reserve list to the H1 2022 reserve list. "This site will provide opportunity for developers to initiate the development of more office and retail space if there is demand."
The H1 2022 reserve list includes a site at River Valley Road carried over from the H2 2021 reserve list, which will provide the opportunity for developers to initiate for development of hotel rooms if there is demand, MND added.
"The government will continue to monitor economic and property market conditions closely and adjust the supply of future GLS Programmes, as necessary," MND said.
Dec 16, 2021
https://i.imgur.com/JqsPhaX.png
THE Ministry of National Development (MND) on Thurday (Dec 16) announced that it is increasing the supply of private housing in the confirmed list of the Government Land Sales (GLS) Programme for first-half 2022 to 2,785 units (including 495 executive condo or EC units). This is 39 per cent higher than the 2,000 units (including 375 EC units) in the current H2 2021 GLS Programme.
ECs are a public-private housing hybrid.
Confirmed list sites are launched for sale according to schedule regardless of demand.
On the reserve list, where sites are launched only upon successful application by a developer or when there is sufficient market interest, MND will release land for 3,715 units (including 700 EC units) in H1 2022. This is 24 per cent lower than the 4,860 units (including 700 EC units) in the H2 2021 programme.
The combined supply from both confirmed and reserve lists for H1 2022 will be 6,500 units (including EC units), which is 5 per cent lower than the 6,860 units (including ECs) in the current H2 2021 programme.
https://i.imgur.com/odpRyLJ.jpg
MND said in its release: "The private housing market has been buoyant, with transaction volumes and prices on the rise over the past year, in spite of the economic impact of the Covid-19 pandemic. The inventory of unsold private housing units has also declined. To ensure that there is sufficient supply of private housing to meet demand and ensure market stability, the government has decided to increase the supply of private housing on the confirmed list to 2,785 units for the H1 2022 GLS Programme, from 2,000 units for the H2 2021 GLS Programme, and is prepared to step up supply further if demand remains strong.
"At the same time, the additional supply on the reserve list will give developers a good selection of sites to initiate for development if they assess that there is demand."
There will be no supply of commercial space or hotel rooms from the H1 2022 confirmed list, same as for the current half.
The H1 2022 reserve list will supply 90,000 square metres of commercial space and 530 hotel rooms, which is also the same as in the current half.
MND noted that the white site at Woodlands Avenue 2 for a mixed-use development will be carried over from the H2 2021 reserve list to the H1 2022 reserve list. "This site will provide opportunity for developers to initiate the development of more office and retail space if there is demand."
The H1 2022 reserve list includes a site at River Valley Road carried over from the H2 2021 reserve list, which will provide the opportunity for developers to initiate for development of hotel rooms if there is demand, MND added.
"The government will continue to monitor economic and property market conditions closely and adjust the supply of future GLS Programmes, as necessary," MND said.