The Government Land Sales (GLS) programme for the first half of 2015 (H1 2015) will generate about 490 Executive Condominiums (ECs) and 2,530 new private homes spread across six residential sites throughout Singapore.
Most of the upcoming housing projects are located in the Outside Central Region (OCR), with the largest, the 1,165-unit Kingsford Waterbay by Kingsford Property Development, sited at Upper Serangoon View.
Meanwhile, a report by Savills revealed 42,218 units (56.1 percent) out of the potential supply for 2015 have been taken up, while 32,970 units (43.9 percent) remain unsold as of 31 December 2014.
Commenting on the 50 units sold at Marine Blue in early January, Savills said the market response for the project was relatively good as 31 units were taken up over a single preview weekend at an average price ranging from S$1,800 psf to S$2,000 psf.
Located at 91 Marine Parade Road, CapitaLand’s Marine Blue comprises 120 apartment units and four two-storey terraces.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
