Singapore’s 2024 private home supply to hit 11-year highs 

The government will be offering a total of 11,110 private residential units.

In a recent release, PropNex said the government has maintained its supply of land for private housing development for the second half of 2024 (2H 2024) under its Government Land Sales (GLS) programme. 

For 2H 2024, the government will be offering 10 sites on the Confirmed List, comprising nine residential sites including an executive condo plot, and one residential and commercial plot. 

Here’s more from PropNex:

All in, the 10 Confirmed List sites can yield an estimated 5,050 residential units (including 560 EC units) – relatively on par with the 5,450 units offered in the Confirmed List of the 1H 2024 GLS programme

Chart 1: Residential units offered under the GLS programme (CL and RL)

Source: PropNex Research, MND

Meanwhile, the government has placed another nine sites on the Reserve List of the 2H 2024 GLS slate which can be triggered for sale by developers should there be market demand for them. The Reserve List sites comprise five residential plots, one commercial site, two white site, and one hotel site which can collectively offer 3,090 residential units (including 730 EC units), 99,350 sq m gross floor area of commercial space, and 530 hotel rooms. 

Taken together, the government will be offering a total supply of 11,110 private residential units (including 610 units from the activated Reserve List site at Zion Road (Parcel B)) for the entire 2024 - the highest yearly supply since 2013.