There would probably be more development sites which would be further available in order to meet the ultimate demand for lands from the developers who show keen reactions to capitalise on getting property market recovered. But analysts also go on to warn that the slight stick of supply for nearly about next five to six months may not be sufficient enough in order to satisfy these developers and specially for the ones who have been aggressively engaging in bids recently for the sites.
The Government land sales programme consists of around 16 sites for the second half of this year. These could be added up to about 8,125 privatised homes, which is up from 7,465 units which was released in the first 6 months of 2017.
There is a demand for even more residential plots to ensure that they possess an adequate or appropriate pipeline supply for new private housing projects in order to meet the demands and needs of the growing population in future. Whilst keeping this in mind, the demand for new private homes have risen in just no time. This new allocation is deemed as conservative which is stated by market watchers as it is felt that it is impossible to meet the demand of developers as well.
From the existing sites releasing for tenders, six of them are already being confirmed in the list. And from these six, four would be separated for residential purpose. The four locations are
- Chong Kuo Road which is next to mai road, Sembawang Road (Known as The Essence Condo)
- Handy Road which is just next to Shopping mall, Plaza Singapura; the only residential plot located in prime Orchard district among the plots released in H2 of 2017
- Hillview Rise in Bukit Batok
- Sumang Walk in Punggol
The 2 other sites will be zoned as mixed residential-commercial plots. Their locations are
- Holland Road
- Sengkang Central (Buangkok Condo)
Up to slightly more than 2800 private homes will be generated from the list of released plots above.
The list which is being reserved consists of ten sites which includes nine privatised homes and also a commercial one too. They are probably able to accommodate about 5,285 complete private homes and also about nearly 56, 790 square feet which is separated for commercial purposes as office use only. Unlike the confirmed list, lands under reserved list will only be launched for tenders if there are keen developers
Upcoming developers and also market competitors are probably surely to continue their legacy to dip in the collective sales in order to get their land banks ashore. Transactions of four collective sales were all put to close for a $1.5 billion combined outlay within the past few months. No matter of any source of fluctuations in the market economy, these developers would never stop seeking for potential opportunities to hit the right target at the right time. Therefore it’s never a bad time to invest and improve their plots or sites in future.
Refer to the website below for more details
http://www.straitstimes.com/business/property/land-supply-raised-for-second-half-of-the-year
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