The government is replenishing land supply after cutting it in 2013.
This chart from Colliers International shows the government increased the supply of land for private housing by 21.9% HoH to 2,840 units in H2.
In June 2017, the government added to 550 units the supply of land for private housing.
Colliers said developers' robust demand for land returned in 2H2016 after the government cut back land supply in its Government Land Sales (GLS) Programme in 2013. Previously, the government was forced to reduce land supply due to a declining residential market and looming oversupply.
Still, Colliers said the current replenished land supply is not enough for the growing demand.
"With limited GLS offerings, developers are turning to private or collective sales as alternative land sources," Colliers said.
The planned residential supply in GLS was trimmed by 81% to 1,560 units in 1H2016 from the peak of 8,135 units in 2H2010.
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