SINGAPORE (June 10): With some 24,000 unsold private residential units and another 44,000 in the pipeline, and a recession on the horizon, there are indications of the government being wary of an oversupply in the property market and moving to nip the problem in the bud.

In the half-yearly Government Land Sales (GLS) programme announced on June 6, there will be 13 sites available for the construction of 6,430 units, down slightly from 6,475 units made available in the GLS in 1H2019.

This total number for 2H2019 is for both the “confirmed list” and “reserve list”. The number of units under the confirmed list has been cut by 25% from 1H2019, from 1,640 units to 1,235 units. The total of 2,875 units in the confirmed list for 2019 is the lowest number made available since 2014.

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