15 Nov '17, 2am

Supply of private homes to soar over next 2 years

The supply of private houses available for sale in Singapore is expected to surge by over two-fold in the next one to two years, revealed Minister for National Development Lawrence Wong on Tuesday (14 November). In a report by the Business Times, he said most of the housing pipeline will come from redevelopment projects built on sites acquired via en bloc sales, in addition to residential plots acquired by developers through the Government Land Sales (GLS) programme. This means there is ample supply to meet demand, so Singaporeans are advised to “do their homework carefully” before buying a residential property. For instance, Wong noted that the overall vacancy rate for private houses here has surpassed eight percent for nearly two years at a current rate of 8.4 percent. The last time that such figure had remained at this high level was in 2005. “What this means is that, i...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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