The government plans to offer land on which 11,110 private apartments will potentially be built this 12 months, the Ministry of National Development announced in an announcement.
Although price growth is weakening, the ministry said it plans to proceed meeting demand for apartments.
Developers have grow to be more cautious about taking over latest projects as town’s real estate market cools amid higher rates of interest and weak demand from wealthy foreigners.
For its part, the federal government is trying to handle the numerous increase in housing rents, which, despite reductions in recent quarters, remain near the best levels in years.
The ministry said Singapore will proceed to offer a “regular supply of personal housing over the subsequent few years”, taking into consideration prevailing economic and real estate market conditions.
The plots for which tenders have been confirmed within the second half of this 12 months include nine plots intended for residential development and one business and residential plot.
