Raising land supply may aggravate housing issues
More residential land can be released, but an unintended consequence may be stiffer fight for labour, materials that lead to higher costs and price increases for homes
Add BT as a preferred source
Singapore
ADJUSTING the additional buyer's stamp duty (ABSD) remission deadline on government land sales (GLS) sites and allowing a change of use for hospitality properties may help reduce pressure on housing developers in the short run, amid the construction industry's labour shortage.
Those were the suggestions by Lee Nai Jia, deputy director of the Institute of Real Estate and Urban Studies (IREUS) at the National University of Singapore, as the foreign workforce in the construction industry continues to shrink while the number of private homes and executive condominiums under construction remains little changed.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Middle East-linked energy supply shocks put Asean Power Grid back in focus
‘We’re not a bubble tea brand’: Chagee aims to double Asia-Pacific footprint to 600 stores by 2027
Meet the women who run one of Singapore’s most trusted hotel brands
Family office for US$12 billion Tetra Pak Fortune exits Hong Kong
