Government Land Sales Programme
The Government releases land through a half-yearly Government Land Sales (GLS) Programme to realise national planning and development objectives.
The GLS Programme comprises the dual system of the Confirmed and Reserve Lists to provide flexibility in the supply of land for development. While sites on the Confirmed List will be launched for sale on pre-determined dates, Reserve List sites will only be launched for sale when there is sufficient market interest for them.
Find out more about URA’s land sales programme here.
Stable and Sustainable Property Market
The Government’s objective is to ensure a stable and sustainable property market, where prices move in line with economic fundamentals. To do so, the Government reviews conditions in the residential property market, and makes use of the levers available to ensure a sustainable property market and financial prudence among households.
The Government has made calibrated adjustments to targeted measures in recent years, in response to market trends. Measures introduced or adjusted include the Additional Buyer’s Stamp Duty, Seller’s Stamp Duty, Total Debt Servicing Ratio, and Loan-to-Value limits, for example.
Find out more about the property market here.
About the Building Maintenance and Strata Management Act (BMSMA)
Today, there are more than 300,000 strata units and 3,000 management corporations (MCSTs). To empower the MCSTs in making decisions on the running of their estates, the Building Maintenance and Strata Management Act (BMSMA) was introduced on 1 April 2005. The Act provides a legal frameworkfor MCSTs to self-governand manage the affairs of their estates, and is administered by the Commissioner of Buildings (COB) of the Building and Construction Authority (BCA).
BCA has published a guide titled “Strata Living in Singapore – A General Guide” to help Subsidiary Proprietors (SPs) understand the key provisions on strata living in condominiums and apartments. Key information covered in the guide includes the duties and responsibilities of parties (including SPs, MCSTs and developers), significance of share values, and maintenance contributions.
You may also access BCA’s webpage here for more info.