Written answer by Ministry of National Development on the supply of land for non-landed private residential developments

Nov 7, 2022

Mr Gan Thiam Poh: To ask the Minister for National Development whether the Ministry will consider increasing the supply of land for non-landed private residential developments as an additional cooling measure to meet the demand for private property.

Answer:

          The Government considers various factors when planning the half-yearly Government Land Sales (GLS) supply for private housing. These include prevailing economic and market conditions, demographic trends, and the adequacy of supply to meet demand over the near to medium term.

2        We have increased the supply of private housing on the Confirmed List of the GLS programme by 75%, from around 3,600 units in 2021 to around 6,300 units in 2022. We are prepared to increase the GLS supply further, if needed.

3        The Government will continue to monitor the economic and property market conditions closely and adjust our policies as necessary, to promote a stable and sustainable property market.