Singapore Real Estate Update: Land Sales Programme for the Second Half of 2023, Supply of Private Housing Reaches a 10-Year High

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On June 21, 2023, Singapore’s Ministry of National Development announced the launch of land supply for private housing has been further beefed up for the second half of 2023, taking the total confirmed supply for the year to its highest in a decade.

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In all, the eight sites on the confirmed list of the Government Land Sales (GLS) programme announced on Wednesday will yield about 5,160 private residential units, including 560 executive condominium (EC) units, and 4,900 sq m gross floor area (GFA) of commercial space. This is a rise of 26 per cent from 4,090 residential units in the first half of 2023.

The reserve list comprises six private residential sites (including two EC sites), one commercial site, one white site and one hotel site.

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