H1 2025 GLS programme expected to attract strong developer interest

Driven by improved market sentiment, easing interest rates, and a steady housing market recovery.

Analysts expect the H1 2025 GLS programme to draw strong developer interest due to its balanced mix of suburban and central sites and increased Executive Condominium (EC) offerings.

In a commentary, Cushman & Wakefield highlighted strong demand for GLS sites driven by improved market sentiment, easing interest rates, and a steady housing market recovery.

For its part, PropNex PropNex noted the government’s strategic increase in EC sites to curb land prices and reduce competition, with developers likely focusing on mixed-use and centrally located plots.

Meanwhile, Huttons noted that the robust sales performance of recent projects increases the likelihood of government intervention to stabilize the market, prompting developers to adopt a cautious approach to manage potential downside risks.

On the other hand, Knight Frank emphasized the GLS programme aligns land supply with housing demand, with developers likely favoring mixed-use and MRT-adjacent plots.

“While the return of homebuyers due to pent up demand is nascent at the moment, the expectation of continued reduction in interest rates paired together with tight national employment levels and supported by overall strong household balance sheets, there are reasons to expect that demand for private residences will remain firm in the year ahead,” it said.

OrangeTee said the inclusion of three EC sites next year will address demand from HDB upgraders and helping regulate EC price growth.

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