Demand Projections for Executive Condominiums and Land Supply for Such Developments

Mr Gan Thiam Poh asked the Minister for National Development (a) whether the Ministry is projecting an increase in demand for HDB Executive Condominiums (EC); and (b) if not, why is the Ministry not projecting such an increase and not increasing the supply of Government Land Sales for the development of EC projects.

The Urban Redevelopment Authority and the Housing and Development Board work closely to plan the supply and development of housing in Singapore. These plans ensure a good mix of public and private housing, including Executive Condominiums (ECs), as well as a wide range of supporting amenities to serve the needs of residents. In planning for the annual supply of ECs, the Government takes into consideration multiple factors, such as the existing unsold stock, take-up rate of new EC units, and prevailing market sentiment, among others.

The supply of ECs made available through the Government Land Sales (GLS) Programme has steadily increased from 2021 to 2023. In 2023, the Government launched two sites on the Confirmed List yielding about 1,260 EC units, making it the largest supply in the last three years. For the 1H 2024 GLS Programme, there is one EC site on the Confirmed List yielding about 710 EC units. There are also two EC sites on the Reserve List yielding about 855 EC units, which developers can initiate for development if they assess that there is demand.

The Government will continue to observe economic and property conditions closely and adjust the supply of future GLS Programmes, including EC sites, as necessary.