Despite the abundant supply of land for Singapore new private homes under the confirmed list of Government Land Sales (GLS) Programme for 2H 2016, no new executive condominium (EC) development sites were released.
Since year 2008, this is the first time that no executive condominium (EC) sites was released under the confirmed list, however due to oversupply concerns in the market, it didn’t come as a surprise, according to Credit Suisse.