Land supply for 2023-24 exceeds previous estimate
The annual flat supply target also exceeded 20%.
The government announced that the actual supply of private housing land for 2023-24 can produce about 15,410 flats, exceeding the February 2024 estimate of 14,000 flats.
The increase is mainly due to private development projects not requiring lease modification in 4Q23. As a result, the total supply has exceeded the annual target of 12,900 flats by about 20%.
The figure includes private housing land supply from all government land sales, Urban Renewal Authority projects, and private developments/redevelopments in the financial year.