Government Ramps Private Housing Supply Offers Three Ec Sites Confirmed List
the government is continuing its efforts to meet housing demand and maintain stability in the market by offering 8,505 private residential units in the upcoming Confirmed List and Reserved List of the 1H2025 GLS Government Land Sales (GLS) programme.
The Confirmed List will have nine residential sites and one residential cum commercial site, including three executive condo (EC) plots with a total of 980 units. This is in line with the 5,050 units offered in the Confirmed List of 2H2024, but significantly higher than the average supply in previous GLS programmes from 2021 to 2023.
The Reserve List consists of four private residential sites, one commercial site, three White sites, and one hotel site. These sites could potentially yield an additional 3,475 private residential units and 199,900 sqm (2.15 million sq ft) gross floor area (GFA) of commercial space. This brings the total private housing supply in 1H2025 to 8,505 units, similar to the 8,140 units offered in 2H2024.
The consistent increase in private housing supply from the GLS programmes has helped to stabilize the market and moderate property price growth. In 2023, the URA private residential property price index recorded a 6.8% increase, compared to 10.6% in 2021 and 8.6% in 2022. It is expected that private residential prices will continue to see modest gains in 2024, with a cumulative increase of around 1.6% in the first three quarters of the year.
To address the high demand for EC sites and rising land prices, the government has ramped up the supply of EC sites by offering three plots that can yield 980 units in the Confirmed List of 1H2025. This is a notable shift from previous GLS programmes since 2019, where only one EC site was offered in each half-yearly land sales programme.
Seven new plots will be introduced in the 1H2025 GLS programme, including a site near Jurong Lake Gardens in Jurong Lake District, a plot in the new housing precinct in Bukit Timah Turf City, and a former Keppel Golf Course site in Telok Blangah Road. These sites are located near MRT stations and are expected to be attractive to both developers and homebuyers.
In addition, the URA has provided more flexibility for the Upper Thomson Road site, which received no bids when its tender closed in June 2024. While it was originally intended for a mix of residential units and long-stay serviced apartments, the site can now be developed for residential use subject to approval from technical agencies.
Notably, the URA did not award tenders for three sites in the previous GLS programme, including the Jurong Lake District master developer site, Marina Gardens Crescent, and Media Circle long-stay serviced apartments. These sites are now listed on the 1H2025 Reserve List.
Overall, the government’s efforts to increase private housing supply through the GLS programmes has contributed to market stability and moderate property price growth. The 1H2025 GLS programme aims to continue this trend and meet housing demand, while also providing flexibility for developers and addressing specific market needs.
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