Residential

More land for private homes in Central Region up for tender

Up from 28.9 per cent in H1 2014, the proportion of private housing supply in the Central Region has increased to 33.2 per cent in H2 this year for the Government Land Sales (GLS) programme. This is an 18.1 per cent increase from the private housing supply land sales in H2 last year, which was at 15.1 per cent. It is also a substantial jump from the low 8.6 per cent in H1 2012. According to the Urban Redevelopment Authority (URA), the sale and development of residential sites in the Central Region will bring homes closer to jobs in the city. This will ease pressure on the transport infrastructure as commuting time between home and work is reduced. Tan Tiong Cheng, the chairman of Knight Frank believes that this is the right time ...