More land for homes soon


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dreaming

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Oct 22, 2006
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#1
anybody has the full article / report? TIA


http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_451727.html
More land for homes soon
Private developers will have a variety of sites to choose from by first half of 2010, says Mah
By Goh Chin Lian

There is no need to rush to buy homes, now that a slew of land parcels will be released to private developers in the first half of next year, said National Development Minister Mah Bow Tan (centre). -- PHOTO: ZAOBAO

THERE is no need to rush to buy homes, now that a slew of land parcels will be released to private developers in the first half of next year.

That was the assurance given on Saturday by National Development Minister Mah Bow Tan.

Similarly, he assured developers that they will have a variety of sites to choose from, with some up for grabs as early as January.

He was speaking to reporters a day after the Government announced that at least eight residential sites - and as many as 26 - will be offered to developers.

It made the move to allay fears of a shortage of homes in the private property market that may have sent prices surging to levels seen in the previous boom.

Five of the 26 sites are for executive condominiums, to cater to the 'sandwiched group', Mr Mah said.

Read the full report in The Sunday Times.
 

dreaming

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Oct 22, 2006
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another article

Ample supply of housing in private market, says Minister Mah
By Hoe Yeen Nie & Jeremy Koh, Channel NewsAsia | Posted: 07 November 2009 2217 hrs


SINGAPORE: National Development Minister Mah Bow Tan on Saturday repeated his assurance that there is an ample supply of housing in the market.

This comes a day after the government announced it was offering more residential sites for sale next year.

A plot of land will be put on sale next January, one of eight sites to be sold in the first half of 2010, and another 16 sites will be made available if there is demand.

In all, these could see a potential 10,000 private residences in the next few years.

Along with another 60,000 units in the pipeline, the government says there is no shortage of new homes.

Mr Mah said: "It's hard for me to predict what prices will be like, but what I do know is that there is ample supply so therefore there is really no reason for there to be a rush, a panic to buy. And that in itself will help to moderate prices."

Private home prices hit record highs recently, prompting government measures to cool the market.

However, the minister said there is currently no indication of a speculative bubble.

The worry now, he explained, is whether there is an under-supply in the market. Hence, the government will release enough land to meet medium-term demand, and let the market decide.

On public housing, one issue that has drawn attention was the housing board's latest annual report, which showed a deficit of S$2 billion.

The amount is twice that of the previous financial year.

Mr Mah said the HDB makes a loss each time it gives out subsidies to first-timer home buyers, and when it sells flats lower than their cost price. The reason for the high deficit was because more flats were offered for sale last year, compared to the year before.

"The question is of course, should HDB be making a loss? The answer is yes," said Mr Mah. "It is making a loss and the government gives it grants every year to cover the losses, mainly because we're giving subsidies to people to buy flats to make flats affordable to first timers. That is why we're making a loss."

- CNA/yb
 

sbs99

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Jan 17, 2002
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#3
more DBSS? or condo? They mentioned "private developers", to a layman like me, its either of the two i mentioned. :dunno:
 

dreaming

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Oct 22, 2006
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#4
ya hor, the contents of the article seems to denote private residential only (not for the average 'Joe' on the street) :confused:
 

melvin

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Jun 4, 2005
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#5
more DBSS? or condo? They mentioned "private developers", to a layman like me, its either of the two i mentioned. :dunno:


According to the article is EC n Condo!:bsmilie:
 

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