URA: Private Housing Supply Up to 4,090 for 1H 2023


Singapore Boosts Private Housing Supply to 4,090 Units for 1st Half of 2023

The Singaporean government increased its supply of private housing, announcing the Government Land Sales (GLS) Programme for the first half of 2023 that includes seven Confirmed List sites and nine Reserve List sites.

According to a press release by the Urban Redevelopment Authority (URA) on Dec. 8, these sites can allow 7,715 private residential units, 199,750-square meter gross floor area of commercial space, and 530 hotel rooms.

This increase brings the government's supply of private housing on the Confirmed List to 4,090 units for 2023, up from 3,505 units for the second half of 2022. The ramp-up of units is in accordance with the government's move for the past two years to answer the demand from homebuyers, the URA said. Meanwhile, the sites on the Reserve List can generate 3,625 units, which will be assessed for development.

With this latest increase, the total pipeline supply of private housing by the government is now around 65,000 units, 55,100 of which with planning approval and the remaining 9,900 units from GLS sites in Singapore that haven't been greenlit yet. The URA added almost 34,000 of these will be finished in the next two years.

Moreover, the government will also develop the Jurong Lake District into a business district beyond the city centre to support decentralisation. The government, as per the URA, will release via the 1H 2021 Confirmed List "a 6.-8-hectare White site for sale to a Master Developer." This site shall be developed over the next five to 10 years.

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