Consultants expect further paring of confirmed list supply

[SINGAPORE] An overwhelming majority of property consultants predict that the government will further trim land supply for private housing development in the confirmed list for the second half of this year, citing the sharp slowdown in home sales and the substantial supply pipeline.

They also expect the authorities to offer commercial sites on the confirmed list and/or reserve list in locations such as Paya Lebar and Woodlands to speed up their development as commercial hubs.

Despite Chesterton Singapore recently urging the authorities to release more hotel sites, citing a looming shortage of hotel rooms, most other property consultants think that there is sufficient supply and hence no pressing need to release land for hotel development. No hotel sites are on offer in the H1 list.