SINGAPORE (Oct 18): Analysts say the new URA property development restrictions will bring about a cooling in land prices for upcoming government land sales (GLS), and possibly be the final nail in the coffin for the en-bloc market.

Longer term, the measures could reduce the number of smaller units coming to market and lower land prices as developers price in lower psf launches.

URA announced last night that the average size of new private flats outside the central area will have to be at least 85 sqm, which compares to the previous limit of 70 sqm. Nine areas, up from four, will be subjected to an even more stringent minimum average requirement of 100 sqm.

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