{"id":102154,"date":"2018-12-07T11:44:57","date_gmt":"2018-12-07T04:44:57","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-trims-land-sales-amid-large-supply-softer-demand\/"},"modified":"2018-12-10T15:06:10","modified_gmt":"2018-12-10T08:06:10","slug":"govt-trims-land-sales-amid-large-supply-softer-demand","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-trims-land-sales-amid-large-supply-softer-demand\/","title":{"rendered":"Govt trims land sales amid large supply, softer demand"},"content":{"rendered":"


\nThe upcoming supply is nearly 20 percent lower than the over 8,000 units provided in the second half of 2018.\u00a0
\nThe government revealed last week that it will release five confirmed list sites and nine reserve list sites for sale under the first half 2019 Government Land Sales (GLS) programme that can collectively yield about 6,475 private homes, including executive condominiums (ECs).
\nAccording to Colliers International, the figure is 19.5 percent lower than the 8,040 units provided in the second half of 2018. It is also the lowest half-yearly stock of residential units since H1 2007 when 5,475 units were offered.
\n\u201cIn trimming the land supply, the government seeks to ensure that the property market remains sustainable in an environment of heightened uncertainty, global trade tensions and looming interest rate hikes,\u201d said Tricia Song, the property consultancy\u2019s research head for Singapore.
\nIn fact, the government said it moderated the supply of land for private housing under the first half 2019 GLS programme as incoming stock has increased substantially and currently stands at 45,000 units.
\nThese consist of some 31,000 unsold units in GLS and en bloc sites with planning approval, and an additional 14,000 units from sites with pending planning approval. On top of that, there are about 28,000 completed private residential units that are still vacant. \u00a0
\nThe authorities also pointed out that private home sales have begun to moderate after the introduction of property cooling measures on 6 July, while the appetite for land among developers has eased.
\nAmong the confirmed list sites, the Tan Quee Lan Street plot is considered the most attractive as it is adjacent to Bugis MRT station, noted Tay Huey Ying, JLL\u2019s head of research and consultancy for Singapore.
\n\u201cThe fact that the government has moved the site from the reserve list on the H2 2018 GLS programme to the confirmed list on the H1 2019 GLS programme indicates its desire to build on the momentum gathered from the completion of new skyscraper developments such as South Beach and DUO, as well as the upcoming Guoco Midtown scheduled for completion in 2022 in its efforts to rejuvenate the Bugis area.
\nMore: Guoco Midtown Project In Beach Road To Feature 200 Homes
\n\u201cHowever, it is a fairly large site and together with its prime location could translate to a rather substantial capital outlay that could limit the number of interested bidders to those with larger risk appetite.\u201d
\nExperts also believe the confirmed list sites at Bernam Street and one-north Gateway could see a healthy level of interest from home builders due to their bite-size plot sizes.
\n\u201cThe Bernam Street site is a rare fresh site in the mostly built-up Shenton Way CBD and near the future Greater Southern Waterfront development. The last time a residential site was offered in that area was back in 2007 \u2013 two sites in Enggor Street, which had been developed into Altez and Skysuites @ Anson respectively,\u201d noted Colliers.
\n\u201cThe one-north Gateway site is also in a location which has been starved of new residential supply. The last time a new residential project was launched in one-north was more than 10 years ago when The Rochester and One North Residences were launched for sale in 2007,\u201d added Tay.
\nAs for the Canberra Link EC site, it is expected to see keen competition from developers as its the only confirmed list EC site in the H1 2019 GLS Programme, although it is slightly farther from the upcoming Canberra MRT station compared to the adjacent EC site released for sale in September.
\nAmong the reserve list plots, the land parcel along Dunman Road is the most appealing for property analysts.
\n\u201cWe view the Dunman Road site as the most attractive site on the reserve list given its proximity to Dakota MRT station, predominantly unblocked views of the East Coast and within minutes\u2019 drive to town. It is also near good schools and the upcoming Paya Lebar Quarter. However, a concern could be its relatively larger size \u2013 1,070 buildable units,\u201d noted Colliers.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Govt trims land sales amid large supply, softer demand<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The upcoming supply is nearly 20 percent lower than the over 8,000 units provided in...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-102154","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qzE","jetpack-related-posts":[{"id":107851,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/government-moves-to-reduce-supply-of-private-homes-on-confirmed-list\/","url_meta":{"origin":102154,"position":0},"title":"Government moves to reduce supply of private homes on confirmed list","date":"June 6, 2019","format":false,"excerpt":"\r This comes as property demand has fallen since the 2018 cooling measures.\u00a0 The government has moved to lessen the supply of private residential housing from confirmed sites covered by the government land sales (GLS) programme for 2019\u2019s second half, reported The Straits Times. This is believed to be caused\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112892,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/government-releases-gls-residential-sites-for-1h-2020\/","url_meta":{"origin":102154,"position":1},"title":"Government releases GLS residential sites for 1H 2020","date":"December 5, 2019","format":false,"excerpt":"\r The Ministry of National Development (MND) announced on 3 December it will release three confirmed\u00a0sites for private residential developments in the 1H 2020 Government Land Sales (GLS) programme. The 1H 2020 sites will yield a combined 1,775 units. While the number of sites and units released\u00a0is lower\u00a0than the\u00a0five confirmed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74514,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-unveils-land-sales-programme-for-h1-2018\/","url_meta":{"origin":102154,"position":2},"title":"Govt unveils land sales programme for H1 2018","date":"December 14, 2017","format":false,"excerpt":"\r Six confirmed list and nine reserve list sites will be launched under the H1 2018 Government Land Sales (GLS) programme, announced the Urban Redevelopment Authority (URA) on Wednesday (13 December). These land parcels could potentially yield approximately 8,045 private homes and 63,960 sq m in gross floor area (GFA)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74862,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/far-too-early-to-worry-of-a-private-home-oversupply\/","url_meta":{"origin":102154,"position":3},"title":"\u201cFar too early\u201d to worry of a private home oversupply","date":"December 19, 2017","format":false,"excerpt":"\r Despite the Monetary Authority of Singapore\u2019s (MAS) warning that private home supply may significantly rise over the next few years on the back of the surge in en bloc deals, Maybank Kim Eng believes it is \u201cfar too early\u201d to be worried of a potential oversupply, reported Today Online.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":59340,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ramped-up-land-supply-may-not-be-enough-for-developers-analysts\/","url_meta":{"origin":102154,"position":4},"title":"Ramped up land supply may not be enough for developers, analysts","date":"June 30, 2017","format":false,"excerpt":"\r \u00a0 Analysts believe the ramped up supply of development sites under the Government Land Sales (GLS) programme for H2 2017 is insufficient to meet the developers\u2019 demand for sites given the declining stock of unsold private homes. Announced yesterday, the H2 2017 GLS Programme comprise six sites on the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86928,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/up-to-29-new-launches-offering-14200-units-for-rest-of-year-report\/","url_meta":{"origin":102154,"position":5},"title":"Up to 29 new launches offering 14,200 units for rest of year: report","date":"May 2, 2018","format":false,"excerpt":"\r Is the upcoming supply excessive and will it result in an overheating housing market?\u00a0 Up to 29 private residential projects could be launched between the second and fourth quarters of this year, supplying about 14,200 new units and raising concerns of an overheating housing market, according to a report\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/102154"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=102154"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/102154\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=102154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=102154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=102154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}