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Singapore to ease land sales in first half of 2014
December 18, 2013 / 1:20 AM / 4 years ago

Singapore to ease land sales in first half of 2014

SINGAPORE, Dec 18 (Reuters) - Singapore will make available land to sell up to 11,600 private homes in the first half of next year, easing the amount on offer from the second part of 2013, the government said on Wednesday.

The Ministry of National Development said it has already confirmed eight sites it will sell off that will yield 4,600 private homes, and has earmarked another 15 plots of land it will sell if there is sufficient interest.

For the second half of this year the government said it would sell off up to 31 sites with the potential for 14,200 private homes under its Goverment Land Sales programme.

Singapore has stepped up land sales in recent years as part of its policy of keeping home prices in check.

However, transactions in the housing market have slowed this year as the government introduced a series of measures to cool interest in the property sector.

“Supply from the GLS Programme, together with the large supply from projects in the pipeline, is expected to be adequate to meet the demand for private housing and commercial space over the next few years,” the Ministry of National Development said in a statement.

In the third quarter of this year private home prices rose 0.4 percent from the second quarter. (Reporting by Rachel Armstrong; Editing by Chris Gallagher)

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