The government s land sales in the second half of the year was 4,725 units, down 6% month-on-month

The government will launch 10 private houses and executive condominiums in the second half of this year, and can build 4,725 private houses, 6% less than in the first half of the year. If the alternative list of areas is included, the government will launch a total of 22 areas in the second half of the year, which can build a total of about 9,200 private housing units, 8% more than in the first half of the year.

The Ministry of Development said: "Based on the government's land sale plan to gradually increase the supply of private homes in the past three years, the rise in housing prices in the private home market has eased. In order to maintain the stable and sustainable development of the real estate market, the government will maintain a stable supply of private homes."

Among the 10 selected areas, three private residential areas can provide commercial space, with a total area of ​​4515 square meters (about 48,600 square feet).

One of the EC lots is located on Woodlands 17 and can build 560 units. The government also launched another EC site in the same area in April this year for the construction of 420 units.

The real estate market has been slowing down recently, and the uncertain economic outlook has led developers to be more cautious when purchasing land. The bidding for Media Circle B was not available in the second half of last year, and the government has now classified this area as an alternative location for the second half of this year.

In terms of alternative areas, the government has prepared 12 private houses, commercial, hotels and white lots, which can build 4,475 residential units and 173,800 square meters of commercial space, as well as 880 hotel rooms.

Among them, the area located on Bukit Tima Road is believed to attract many developers to bid.

The Ministry of National Development issued a statement on Friday (June 13) saying that this year's government land sales plan will have eight private residential areas in the second half of the year, which can supply 3,735 units.

There are two Executive Condominium (EC) lots on the

list, which can build 990 units. The supply of EC will therefore increase to about 2,000 units throughout the year, the largest since 2014.