H1 2017 housing supply under GLS up slightly in balancing act

Singapore

THE government has marginally raised residential supply under the confirmed list of its Government Land Sales (GLS) programme in what is seen as a delicate balancing act of meeting improved buying demand, while managing the downside risks if the economy worsens.

The lack of commercial sites on the confirmed list - a list where sites are put up for tender according to schedule - is also providing the much-needed breathing space amid demand weakness for office and retail space, market watchers say.