REDAS urges govt to review property market tightening measures
It is urging the government to review its land sales programme to ensure that new supply is introduced only when the market is confident of absorbing it.
With the possibility of demand for private homes dropping due to an economic downturn, developers are pointing to the need to rein in supply.
In the second half of this year, the government will put up for sale 17 private residential sites under the Confirmed List of the Land Sales Programme.
Including recent sites sold, an estimated 53,000 private homes will hit the market over the next few years.