View Full Version : Release of first half 2015 Government Land Sales (GLS) Programme
The Government today announced the first half 2015 (1H2015) GLS Programme, which will comprise 6 Confirmed List sites and 13 Reserve List sites. These sites can yield up to 8,770 private residential units, including 1,010 Executive Condominium (EC) units and 265,000 sqm gross floor area (GFA) of commercial space (see Appendices 1 & 2 [PDF, 12kb])
The Confirmed List contains 6 private residential sites (including 1 EC site) which can yield about 3,020 private residential units (including 490 EC units).
The Reserve List contains 9 private residential sites (including 1 EC site), 1 commercial & residential site, 2 commercial sites and 1 White site. These sites can yield about 5,750 private residential units and 265,000 sqm GFA of commercial space.
Supply from the GLS Programme, together with supply from projects in the pipeline, will be adequate to meet the demand for private housing and commercial space over the next few years.
Supply of Private Housing
The residential sites on the 1H2015 Confirmed List are located in Outside Central Region and Rest of Central Region.
The commercial & residential site at Holland Road, originally placed on the 2H2014 Confirmed List, is the first sale site to be launched as part of the Holland Village Extension plan unveiled in the Master Plan 2014. A Concept and Price Revenue Tender will be adopted for this site. This is to ensure that the site’s future development enhances the unique charm and distinctive urban village character of the Holland Village Identity Node. The site is transferred from the Confirmed List to the Reserve List to give developers more time to study the site and tender evaluation criteria before triggering it for sale.
Supply of Commercial Space
The Government is releasing a second commercial site in Woodlands Regional Centre at Woodlands Square for sale via the Reserve List of the 1H2015 GLS Programme. This will sustain the development momentum of Woodlands Regional Centre as a major commercial node outside the city, in line with the Government’s objective of decentralising employment centres to bring job opportunities closer to homes.
The 1H2015 Reserve List will have 2 other sites for predominantly office developments. The White site at Marina View and commercial site at Beach Road will be carried over from the 2H2014 Reserve List. Together with the Woodlands Square site, these sites will allow developers to initiate the development of more office space if they assess that there is demand.
Other Government Supply to be Made Available in 1H2015
Apart from the GLS Programme, the Government will also make available other supply of land and properties through its various agencies to meet economic or development objectives. These include localised retail facilities at parks, selected HDB estates, industrial estates, MRT stations, sport facilities, community centres and the leasing of vacant state properties for commercial uses.
http://www.ura.gov.sg/uol/media-room/news/2014/dec/pr14-74a.aspx
Cutting down on supply is good news.
THE government will offer land for about 3,020 private residential units (including 490 executive condominium units) through the confirmed list for the first half 2015 Government Land Sales (GLS) Programme.
This is lower than the 3,915 private residential units (including 1,520 EC units) through the confirmed list of the current second half 2014 GLS programme.
The Ministry of National Development will not be offering any land for commercial space or any hotel sites in the H1 2015 confirmed list.
Sites on the confirmed list are launched for tender according to schedule, regardless of demand.
On the reserve list, where sites are launched only upon successful application by a developer, MND will offer land for 5,745 private homes (including 520 EC units) and 265,130 sq m gross floor area of commercial space in H1 2015. This compares with supply of 6,305 private homes and 193,280 sq m commercial space in the H2 2014 reserve list.
No hotel sites will be offered on the next half reserve list.
Cutting down on supply is good news.
Is there anyway to find out the reserve prices that have been set for those reserve plots mentioned here on a psf basis.......both residential and commercial quotes would be helpful.
Is there anyway to find out the reserve prices that have been set for those reserve plots mentioned here on a psf basis.......both residential and commercial quotes would be helpful.
Reserved price is actually quite irrelevant because when the site is trigger by a single bid, it will be put for public tender. The Holland V site will be interesting.
I think the Dundee Road plot will prompt CDL to defend its Coomonwealth Towers pricing.
I think the Dundee Road plot will prompt CDL to defend its Coomonwealth Towers pricing.
This is a tough call because new project in that area is really not moving and the depressing resale market for CCR is not helping either.
Reserved price is actually quite irrelevant because when the site is trigger by a single bid, it will be put for public tender. The Holland V site will be interesting.
The full implication is that if reserve price not met, the site will not be released. Suka suka move to reserve site is very ungentlemanly. Confirmed sites were supposed to be a cooling measure in itself.
It's very clear to me how much the Govt has everything under its control, even if it is not admitted.
The full implication is that if reserve price not met, the site will not be released. Suka suka move to reserve site is very ungentlemanly. Confirmed sites were supposed to be a cooling measure in itself.
As I said before, what the government DO is more important than what they say. By cutting down on supply, they are indirectly helping to soak up the over supply for next few years. So if economies recovers in say 2016/7 we could possibly see a shortage of supply come 2018/9.
Shortage in CCR supply only
0 CCR unit in 13H2, 14H1, 15H1 GLS
5xx CCR units in 14H2 GLS
So 15-20k of GLS units from 13H2 to 15H1, only 5xx new units in CCR come 2018/2019
As I said before, what the government DO is more important than what they say. By cutting down on supply, they are indirectly helping to soak up the over supply for next few years. So if economies recovers in say 2016/7 we could possibly see a shortage of supply come 2018/9.
Shortage in CCR supply only
0 CCR unit in 13H2, 14H1, 15H1 GLS
5xx CCR units in 14H2 GLS
So 15-20k of GLS units from 13H2 to 15H1, only 5xx new units in CCR come 2018/2019
Most CCR supply are FH, and they dont come from URA. There are many projects which has or near TOP but yet to launch, and they are also several CCR LH supply that has yet to launch yet.
Most CCR supply are FH, and they dont come from URA. There are many projects which has or near TOP but yet to launch, and they are also several CCR LH supply that has yet to launch yet.
The projects are well spaced out at different parts of Singapore.......more suitable for the mass market and tose looking to upgrade from hdb to pte....
Most CCR supply are FH, and they dont come from URA. There are many projects which has or near TOP but yet to launch, and they are also several CCR LH supply that has yet to launch yet.
OCR supply not yet launch is 5x larger than CCR
Moreover OCR demand is slowing now. If you match the supply demand, the picture is clear
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THE demand for mass-market flats has fallen sharply this year and is putting increasing pressure on prices, says OCBC Investment Research.
It forecasts that prices could fall up to 15 per cent over the next two years while sales of new homes will stay muted next year.
The numbers from this year point to the gloom ahead.
There were only 6,800 private homes sold - excluding landed properties and executive condominium units - in the 10 months to Oct 31, half the level of the same period last year, says OCBC Investment Research analyst Eli Lee, adding that the pain is especially acute in the mass-market segment.
"Mass-market home sales routinely made up the bulk of the total market volume - 69 per cent of total sales over January 2012 to June 2013. As we entered the bear market in the second half of 2013, the dominance of the segment waned and constituted 51 per cent of total sales over July 2013 to date."
High-end sales "spiked" in October from September, thanks to the launch of Marina One Residences, which sold 335 units over the month at a median price of $2,228 per sq ft, notes Mr Lee.
He expects demand for shoebox apartments - units up to 506 sq ft - to be more at risk than larger homes due to the "untested rental market for the large supply of shoebox units that will be completed next year".
The prevailing rents for shoebox units may have been skewed upwards as the smaller completed supply means the market has not really been tested yet.
Mr Lee also notes that 84 per cent of the 12,000 shoebox units sold since 2009 are outside the city centre, so "their capital values could come under pressure if rental yields decline significantly below current expectations".
OCBC Investment Research also tips new home sales to stay soft at between 8,000 and 10,000 units next year.
While some in the industry hope that cooling measures like stamp duties will be reviewed, OCBC expects that will happen only "when residential price declines approach a meaningful threshold of 10 per cent".
Deputy Prime Minister Tharman Shanmugaratnam said in a speech in October that private property prices still have "some distance to go in achieving a meaningful correction after the sharp run-up in prices in recent years".
This could happen in the second half of next year or later, said the OCBC report.
It also prefers large developers with strong balance sheets, a diversified regional presence and portfolios with significant investment asset exposures.
princess_morbucks
05-12-14, 10:50
http://www.channelnewsasia.com/news/singapore/three-land-sites-released/1511404.html
SINGAPORE: To provide home buyers with more choices for private housing, three sites that can yield about 1,500 homes will be released for sale under the second half of the Government Land Sales (GLS) Programme.
A residential site at Jurong West St 41 was released for sale on Friday (Dec 5) by the Urban Redevelopment Authority (URA), while the Housing and Development Board (HDB) will launch an Executive Condominium site at Woodlands Avenue 12 for sale on Dec 16. Both sites are under the confirmed list.
A commercial and residential site at Holland Road will also be launched for sale on the reserve list. This mixed-use, pedestrian-oriented development will offer more retail and dining options and provide more residences in Holland Village, said a joint statement issued by URA and HDB.
A network of pedestrianised streets and public spaces will connect with the surrounding lorongs and the housing estate, the statement said. “The new development will build on and reinforce the continued success of Holland Village while creating new community spaces for people to gather and interact,” it added.
OCR supply not yet launch is 5x larger than CCR
Moreover OCR demand is slowing now. If you match the supply demand, the picture is clear
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I can only say that none of what you said is supported by facts.
reliable information like this is what you need, not some big talk and hot air.
And remember that 80% of Singapore population are still living in HDB
http://www.btinvest.com.sg/system/bti/property2014_sept/pdf/Property2014.pdf
http://www.channelnewsasia.com/news/singapore/three-land-sites-released/1511404.html
Holland V site should attract many big players, and I expect some of the big boys will choose to joint forces.
e.g. Fraser + FEO, Capitaland + CDL.
This project should help elevate residential property prices around the area, however it could bring bad news to existing shops around Holland V due to construction inconvenience, as future competition, especially eateries and restaurant.
It will be interesting to see what will happen to Holland Road shopping centre. Perhaps they will forced to go en bloc since it unlikely Cold Storage will remain there once the new site TOP.
This site is on reserve list, not confirmed list.
Holland V site should attract many big players, and I expect some of the big boys will choose to joint forces.
e.g. Fraser + FEO, Capitaland + CDL.
This project should help elevate residential property prices around the area, however it could bring bad news to existing shops around Holland V due to construction inconvenience, as future competition, especially eateries and restaurant.
It will be interesting to see what will happen to Holland Road shopping centre. Perhaps they will forced to go en bloc since it unlikely Cold Storage will remain there once the new site TOP.
The facts are clear - very little CCR supply in GLS in recent years - only 5xx CCR units only in 2 years of GLS. Enbloc is unheard of in past few years.
On 80% living in HDB, 100,000 BTO OCR flats also flooding the market in next few years. So you see resale flats are leading the drop in prices
I can only say that none of what you said is supported by facts.
reliable information like this is what you need, not some big talk and hot air.
And remember that 80% of Singapore population are still living in HDB
http://www.btinvest.com.sg/system/bti/property2014_sept/pdf/Property2014.pdf
This site is on reserve list, not confirmed list.
I have already touch on this in the first page. We know its reserved list.
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