Singapore Scales Back Private Housing Land Supply Amid Economic Uncertainty
Singapore is slightly reducing the supply of private housing land for the second half of 2025, reflecting caution in the face of global economic headwinds and a cooling property market.
The Ministry of National Development (MND) announced on June 13 that the confirmed list under the Government Land Sales (GLS) programme will offer land for 4,725 private homes — a 6.1% drop from the 5,030 units offered in the first half of the year.
However, the reserve list — which includes sites that can be launched if there’s enough developer interest — will see an increase in supply. In total, the GLS programme will offer 22 sites: 10 on the confirmed list and 12 on the reserve list, potentially yielding around 9,200 private homes, up from 8,505 earlier this year.
Why the Cutback?
Analysts say the move reflects a more cautious approach due to slower home sales since April and ongoing economic uncertainty. Tricia Song from CBRE noted that developers have been more conservative in recent land tenders, and the government is responding accordingly.
Nicholas Mak from Mogul.sg added that concerns over the job market and broader economic conditions are likely influencing the decision.
Despite the cut, the current land supply is still significantly higher than what was offered between 2015 and 2023, according to Huttons’ Lee Sze Teck.
More Executive Condominiums (ECs) Coming
The confirmed list includes two EC sites — at Woodlands Drive 17 and Miltonia Close — bringing the total number of EC plots offered in 2025 to five. That’s more than double the usual number in recent years and could yield nearly 2,000 units, the highest since 2014.
With only 50 unsold EC units left in the market as of April, PropNex CEO Ismail Gafoor said the new supply should help ease competition and keep land prices in check.
Where Are the New Sites?
The confirmed list includes sites in:
- Dover Road
- Dunearn Road
- Bukit Timah Road
- Bedok Rise
- Dairy Farm Walk
- Tanjong Rhu Road
- Kallang Avenue
- Lentor Central
- Woodlands Drive 17
- Miltonia Close
Some of these locations are expected to attract strong interest. For example, the Dover Road site is near one-north MRT and could appeal to students and professionals working in nearby science parks. It also has the highest estimated yield of 625 homes and 3,000 sq m of commercial space.
The Bedok Rise site is the last available plot near Tanah Merah MRT, while the Tanjong Rhu Road site is the first GLS plot in that area in nearly 30 years.
What’s on the Reserve List?
The reserve list includes:
- Six private residential sites
- One commercial site
- Three mixed-use “white” sites
- Two hotel sites
These could yield another 4,475 homes, 173,800 sq m of commercial space, and 880 hotel rooms. Notably, a new hotel site at Telok Ayer Street has been added to support vibrancy in the Central Business District. It’s planned for a mixed-use development with hotel rooms, serviced apartments, and retail spaces.
