Government Supply of Private Housing in 2023 is Highest in a Decade with Release of 2H2023 Government Land Sales Programme
Jun 21, 2023
- The Confirmed List supply of private housing in the GLS programme has been further ramped up by 26% in 2H2023 compared to 1H2023.
- With the 2H2023 supply, the total Confirmed List supply of around 9,250 units for the whole of 2023 will be the highest in a decade.
- Complementing the property market cooling measures, this supply injection will bring the total pipeline supply of private housing (including ECs) to about 63,500 units, and cater to resilient demand.
1. The Government today announced the Government Land Sales (GLS) Programme for the second half of 2023 (2H2023), which comprises eight Confirmed List sites and nine Reserve List sites. These sites can yield about 8,590 private residential units, 98,250 sqm gross floor area (GFA) of commercial space and 530 hotel rooms (see Appendix 1 & Appendix 2).
2. All eight Confirmed List sites are private residential sites [including one Executive Condominium (EC) site], which can collectively yield about 5,160 private residential units (including 560 EC units) and 4,900 sqm GFA of commercial space. The Reserve List comprises six private residential sites (including two EC sites), one commercial site, one White site and one hotel site. These Reserve List sites can yield an additional 3,430 private residential units (including 855 EC units), 93,350 sqm GFA of commercial space and 530 hotel rooms.
3. The Government will continue to monitor economic and property market conditions closely and calibrate the supply of future GLS Programmes, as necessary, to help meet demand and promote market stability.
Supply of Private Housing
4. To cater to strong private housing demand, the Government has decided to increase the supply of private housing on the Confirmed List further to 5,160 units, from 4,090 units in the 1H2023 GLS Programme. This brings the total Confirmed List supply to 9,250 units in 2023, the highest level since 2013. This is also nearly 50% higher than the supply in 2022, and around 2.5 times the supply in 2021. The Government has also made available sites on the Reserve List that can yield an additional 3,430 units, for developers to initiate for development if they assess that there is demand.
5. The increased Confirmed List supply for 2H2023 will add to the existing pipeline supply to meet the housing needs of the population. Specifically, it will bring the total pipeline supply of private housing (including ECs) to about 63,500 units, comprising 50,200 units with planning approval and 13,300 units from GLS sites and awarded en-bloc sites that have yet to be granted planning approval. Of these, about 40,400 units will be completed between 2023 and 2025, which is more than double the 20,000 units completed from 2020 to 2022. This forms part of the total supply of about 100,000 public and private housing units to be completed between 2023 and 2025, which will help to cater to housing needs in the immediate few years ahead.
Supply of Office Space
6. The White site for a mixed-use development at Woodlands Avenue 2 and the short-term lease commercial site at Punggol Walk will be carried over from the 1H2023 Reserve List to the 2H2023 Reserve List. These two sites will provide opportunity for developers to initiate the development of more office and retail space if they assess that there is demand.
Supply of Hotel Rooms
7. The 2H2023 Reserve List includes a site at River Valley Road carried over from the 1H2023 Reserve List. This will provide opportunity for developers to initiate the development of more hotel rooms if there is demand.
Proposed Residential, Commercial and Hotel Sites for 2H2023 GLS Programme
(1) The estimated number of dwelling units (DU) for Executive Condominium and private residential sites take into account the average unit sizes of recent comparable developments and prevailing Development Control guidelines.
(2) Site is imposed with a DU cap of 501 residential units.
(3) Site is imposed with a DU cap of 565 residential units.
(4) New sites introduced in 2H2023.
(5) Site is imposed with a retail cap of 500 sqm.
(6) Site is imposed with a retail cap of 2,000 sqm GFA and a minimum 1,000 sqm GFA for childcare centre. Serviced apartment use will be allowed for the site.
(7) Site is imposed with a retail cap of 2,400 sqm GFA and a minimum 600 sqm GFA for childcare centre. Serviced apartment use will be allowed for the site.
(8) Site is imposed with a minimum 600 sqm GFA for childcare centre.
(9) Sites are imposed with a minimum 500 sqm GFA for childcare centre.
(10) Site is imposed with a minimum office quantum of 8,400 sqm GFA and a minimum 650 sqm GFA for childcare centre.
(11) Site is imposed with a retail cap of 33,000 sqm GFA and a minimum office quantum of 45,000 sqm GFA.
(12) Site is imposed with a retail cap of 2,000 sqm GFA.
(13) Refers to estimated date the detailed conditions of sale will be available, and applications can be submitted.
Status of the GLS Programme for the First Half of 2023 (1H2023)
(as of 21 June 2023)
1. The 1H2023 GLS Programme comprises sixteen sites, of which seven are on the Confirmed List and nine are on the Reserve List.
2. To date, four of the Confirmed List sites have been launched for tender and the remaining three Confirmed List sites [i.e. Media Circle, Marina Gardens Crescent and Jurong Lake District] will be launched in late-June 2023.
3. All nine sites on the Reserve List, comprising six private residential sites, one commercial site, one White site and one hotel site, will be carried over to the 2H2023 GLS Programme.