Sunday, June 16, 2024

Singapore govt’s supply of private housing in 2023 highest in decade

The Singapore government on Wednesday announced the Government Land Sales (GLS) Program for the second half of 2023, which comprises eight Confirmed List sites and nine Reserve List sites.

According to a statement from the Urban Redevelopment Authority (URA), the Confirmed List supply of private housing under the GLS Program has been further ramped up by 26 per cent in the second half of this year compared to the first half, reports Xinhua news agency.

With the newly announced supply, the total Confirmed List supply of around 9,250 units for the whole of 2023 will be the highest in a decade.

This is Singapore’s sixth straight semi-annual increase in the Confirmed List supply of residential units.

The sites on the Confirmed List and Reserve List can yield about 8,590 private residential units, 98,250 square meter gross floor area of commercial space and 530 hotel rooms.

Complementing the property market cooling measures, this supply injection will bring the total pipeline supply of private housing to about 63,500 units, and cater to resilient demand, according to the URA statement.

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