The Ministry of National Development has just released the list of Government Land Sales for H2 2016 with the title “Finding the right balance”. Other than the exact locations of these sale sites (which can be found via the actual link below), a key take away for most investors or home owners is none other than the direction of property prices in the near future. Will the prices go up so I can hold awhile more before I sell? Or will the prices go down further so I can hold awhile more before I buy?
This release does give some insight to the general direction the government is planning for. Referring to the quote in the next paragraph, I infer that the state’s goal is to maintain current prices by managing supply carefully – hence achieving the right balance for a sustainable property market. What’s your take? Let me know how does this announcement affects your plans.
“We are mindful that excessive supply in a weak market can exacerbate a decline in prices. At the same time, insufficient supply can result in a future shortage and an unwarranted spike in housing prices when demand picks up.
So we will continue to monitor the market closely, and find the right balance to ensure sustainable housing prices and a stable property market.”
The Urban Redevelopment Authority (URA) announced the Government Land Sales (GLS) Programme for the second half of 2016 earlier today. In considering the land quantum for the 2H2016 GLS programme, we have taken into account several factors: First, the decline in the number of remaining unsold private homes, as well as the corresponding pick-up in […]