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SG Govt H2 land sales sees mixed views

Property Here - Monday, June 03, 2013

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By Shabnam Muzammil:

Real estate consultants polled by The Business Times gave different views on the Government Land Sales (GLS) Programme for the second half of 2013.

Some expect the Ministry of National Development (MND) to maintain the same quantum of land for private housing projects, including executive condominiums (ECs), similar to the level in the current half of the year, citing robust home sales and the need to meet the expected population growth in the medium term.

However, others feel the Ministry could reduce the amount of land for ECs, in the case of lesser demand should the government decide to scrap the subsidy for first-time buyers.

Meanwhile, any revisions to the EC scheme should be preceded or accompanies by a policy announcement, noted Ong Teck Hui, National Director for Research & Consultancy at Jones Lang LaSalle.

“It would be a bit drastic to stop selling EC sites immediately as the government should explain how the ‘sandwich class’ will be taken care of.”



Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@allproperty.com.sg