State land sale proceeds in FY2023 at S$8.15 billion so far, highest in 6 years
PROCEEDS of state land sales have amounted to about S$8.15 billion so far for the government’s fiscal year ending Mar 31, 2024.
This is the largest sum recorded from government land sales (GLS) in the past six years, since FY2017, when S$8.4 billion worth of land was sold, said Chia Siew Chuin, JLL’s head of residential research.
The value of state land sold so far in FY2023 is up from the S$3.6 billion transacted in FY2022. It is also higher than the average seen annually between FY2017 and FY2021, which Minister for Law and Home Affairs K Shanmugam put at S$5.5 billion in a parliamentary reply in January 2023.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Airbnb promises to combat sex work in rentals during Paris Olympics
Hong Kong property deals hit three-year high in April
More homes planned in Media Circle to support housing demand
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise
Far East Shopping Centre owners in private talks after close of S$928 million en bloc tender