Supply of residential land unlikely to let up in short-term

Supply of land for residential homes is not likely to let up in the short-term.

The government said it will release more land and calibrate measures to ensure property prices are in line with economic growth.

In the addendum to the President's Address in Parliament, National Development Minister Khaw Boon Wan said the government is releasing more land for private housing to meet the aspirations of Singaporeans.

This could mean that more sites will be made available for development when the Government Land Sales Programme for the first half of 2012 is announced in November or December.

Judging by the popularity of recent GLS tenders, executive condominium sites could be on top of the list due to high demand for executive condominium units, which is further strengthened with the revision in income ceiling.

Source : Channel NewsAsia – 12 Oct 2011