MND maintains land supply under 1H 2018 GLS programme

Posted by edison_foo on December 13, 2017
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The Singapore government has officially its plans for the 1H 2018 Government Land Sales (GLS) programme on Wednesday morning – releasing only 6 private residential land parcels (including 1 for executive condominium or EC) on the Confirmed list and another 8 private residential sites (inclusive of 2 EC sites) and 1 commercial plot under the Reserve list.

1H 2018 Government Land Sales GLS programme

The numbers has clearly reflected government’s intention to maintain the current rate of land supply for development of private homes by keeping it at around the same level as compared to the supply which was planned under the earlier 2H 2017 GLS programme and also taking in consideration from the potential supply generated from the recent en bloc fever in Singapore.

Under the 1H 2018 GLS programme, the Ministry of National Development (MND) mentioned that the subject sites can yield approximately 8,045 private residential units (including ECs) and 63,960 sq meters (gross floor area) of space for commercial development.

When compared to the 2H 2017 GLS programme, It offered a potential yield of 8,125 private homes (including ECs) and 83,590 sq meters (gross floor area) of commercial space – on both the confirmed list and reserve list.

It was noted by MND that the government has planned to maintain the total supply of sites for 1H 2018 GLS at around the same level of 2H 2017 GLS as there is currently an overwhelming demand from property developers for sites and a surge in property transactions.

1H 2018 Government Land Sales sites

In addition, there is also a potential supply of estimated 20,000 units – awarded from collective sales and previous GLS sites that planning approvals haven’t been granted and approximately another 18,000 units (planning approval granted) which are still unsold.

On top of that, there are still more than 30,000 vacant private homes (from existing supply) in the property market.

MND also believe that once all these supplies in the pipeline will be more than enough to meet buyers’ demand for new private homes over the next 1 to 2 years.

MND maintains land supply under 1H 2018 GLS programme
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