Private housing supply cut due to Covid-19 fallout

Another latest measure by Government to stabilize the property market to ensure that developer has sufficient time to move the existing stocks. With the drop in supply of land, this will leave consumers will limited supply and once demand increase, there is a possibility that property prices might increase. However this scenario might not happen during this Covid-19 crisis and current supply will be able to fulfill market demand for the next 3-5 years. Home buyers of Mayfair Modern will see a capital appreciation since there are increase in plots of land zoned for residential.

Source: The Straits Time

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