Govt cuts private housing supply from confirmed land sale sites due to Covid-19 fallout: The Straits Times

In line with the weaker employment outlook and investment sentiments due to covid-19 fallout, government had moderated the private residential supply in the confirmed sites to 1370units, under the Government Land Sales (GLS) programme for the 2nd half of the year. However, to ensure sufficient supply in the event of a V-shaped recovery, 5300 units had been put on reserve list so that government can adapt quickly to a speedily recovery in the property sector. Hence, the combined total housing supply is higher than the 6490 units announced under the GLS programme for the first half 2020.

Source: https://www.straitstimes.com/business/property/govt-cuts-private-housing-supply-from-confirmed-land-sale-sites-due-to-covid-19

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