Chart of the Day: Private residential land supply trimmed sharply on back of looming flat glut

This is the lowest since 2009.

The government appears bent on evading Singapore's looming flat glut, as evidenced by the sharp drop in available private residential supply in the 2H15 Government Land Sales (GLS) Programme.

According to OrangeTee Research, the confirmed list for 2H15 will yield an estimated total of 2,130 residential units, which is 29% lower compared to 1H15 tally of 3,020 residential units.

This is also the lowest number of residential units released in 2H15 confirmed list is the lowest since the
suspension of the confirmed list in 2009.

"The government has been slowly reducing the confirmed list supply since 2H10, and 2H15 list marks the sharpest fall in supply yet. The continued taper of private residential land supply is in line with broad expectations, in view of the lacklustre market and worries of a probable incoming housing glut," said OrangeTee.