14,000 Private Residential Homes to Come for First Half of 2013
The Ministry of National Development (MND) has announced that 12 private residential sites, including 5 Executive Condominium (EC) sites and a mixed commercial and residential site, make up the Confirmed List for first half of 2013 (1H2013) of the Government Land Sales (GLS) programme. These plots of land will be developed into 14,000 new private homes in the first half of next year. Of the targeted 6900 private residential units, 3100 will be ECs. The aim of releasing this supply is to keep the price of housing steady after it hit the roof in the third quarter of 2012. Most of these private residential sites will be situated at the city fringe or the suburbs, where home prices are generally lower. The sites will also yield 33,000 sqm gross floor area (GFA) of commercial space. The expected number of 14,000 homes that will be developed from these sites is similar to the 14,185 and 14,140 units achieved in the first and second half of this year respectively. On top o