Government Ramps Private Housing Supply Offers Three Ec Sites Confirmed List
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Nestled in a convenient location near Clementi, Elta Condo is a top choice for families with children attending school and international students. Moreover, the demand for housing in Clementi is largely fueled by its close proximity to business parks and hubs in the surrounding areas of Jurong Lake District, Buona Vista, and one-north. With its fantastic location and alluring amenities, Elta is a highly sought after residential option for individuals and families alike. To learn more about Elta and its offerings, please visit http://www.the-elta.com.sg/.
The government is taking proactive measures to ensure that housing demand is met and market stability is maintained in the upcoming years. To achieve this, a total of 8,505 private residential units will be offered under the Confirmed List and Reserved List of the 1H2025 GLS Government Land Sales programme.
Out of the 10 plots to be offered on the Confirmed List, 9 will be residential sites with 3 of them being executive condo (EC) plots, while the remaining plot will be a residential cum commercial site. These 10 sites have the potential to yield an estimated 5,030 residential units, including 980 EC units. This is in line with the 5,050 units offered in the Confirmed List of 2H2024, but almost 60% higher than the average supply on the Confirmed List in each GLS programme from 2021 to 2023.
The Reserve List, on the other hand, includes four private residential sites, one commercial site, three White sites and one hotel site, which have the potential to yield an additional 3,475 private residential units and 199,900 sqm (2.15 million sq ft) gross floor area (GFA) of commercial space. This is higher than the 3,090 units in the Reserve List of 2H2024, bringing the overall private housing supply to 8,505 units in 1H2025, which is on par with the 8,140 units in 2H2024.
The progressive increase in private housing supply through the GLS programmes over the past three years has contributed to the stabilisation of the private residential market, resulting in a moderation of property price momentum. According to the URA private residential property price index, price growth has decreased to 6.8% in 2023 from 10.6% in 2021 and 8.6% in 2022. In 2024, private residential prices are expected to see more modest gains, with the cumulative price increase over the first three quarters of the year at around 1.6%.
With an increase in competition for EC sites among developers and rising EC land prices, the government has ramped up the supply of EC sites, offering three plots which can yield 980 units in the Confirmed List of 1H2025. This is a shift from previous GLS programmes since 2019, where only one EC site was offered in each half-yearly land sales programme. According to PropNex CEO Ismail Gafoor, this increase in EC land supply could help soothe competition among developers and potentially moderate EC land cost and prices.
The 1H2025 GLS programme will introduce seven new plots, including a plot at Lakeside Drive near Jurong Lake Gardens in Jurong Lake District, Dunearn Road in the new housing precinct in Bukit Timah Turf City, and Telok Blangah Road on the former Keppel Golf Course site. The Dunearn Road site is strategically located within the new housing precinct of Bukit Timah Turf City and the Dorsett Road site, previously the location of the Singapore Indian Fine Arts Society, can potentially yield about 430 units.
The Hougang Central site, located near the Hougang MRT Station on the Northeast Line, is also offered for sale, with plans for a new mixed-use development with 835 residential units and over 400,000 sq ft of commercial space. URA has also provided more flexibility with the Upper Thomson Road plot, stating that serviced apartment/long-stay serviced apartment use would not be mandated for the site but can be allowed subject to approval from technical agencies.
The 1H2025 GLS programme also saw the rejection of three plots due to low bids. These plots – Marina Gardens Crescent, the Jurong Lake District master developer site, and plots in Media Circle – are now listed on the Reserve List. With the majority of sites being located near MRT stations, they are likely to attract both developers and homebuyers. Gafoor believes that the most attractive sites are the mixed-use site in Hougang Central (835 units), the Telok Blangah Road plot (740 units), Dunearn Road (370 units) and the Lakeside Drive site (575 units), which are all minutes away from MRT stations, Jurong Lake Gardens and the Jurong East commercial hub.