A Market That Wants More… But Is Getting Less
As an agent watching buyer demand climb rapidly in 2025, the latest move to trim the confirmed list supply in the H1 2026 GLS Programme feels like the market moving in the opposite direction of what buyers and developers need.
New launches across Holland, Queenstown, Science Park, Thomson, River Valley and Clementi are clearing 80%–99% at launch weekends — a sign that demand remains incredibly firm, supported by low interest rates and long-term confidence.
Yet, GLS supply on the confirmed list is being reduced. When demand is this strong, tightening land supply risks pushing prices even higher, and may create a more competitive, less accessible market for everyday buyers.
Infographic: Key Highlights of the GLS Debate (2026)
📉 Confirmed List Supply Has Been Cut
- H1 2026 GLS confirmed list: 4,575 units
- Down 3.2% from H2 2025 (4,725 units)
- Down 9% from H1 2025 (5,030 units)
- Far below the 2024 levels (5,450 → 5,050 units)
🏘️ Demand for New Homes Is Extremely Strong
- 2025 new launch sales expected at ~11,000 units (highest since 2021)
- Launch weekend sell-through rates: 92%–99% at several major projects
- 3-month SORA down to 1.23% (from 3.02%) — a major demand booster
📈 Why More Supply Matters
- Private home prices up 5.1% YoY (Q3 2025)
- Non-landed prices up 5.6% YoY
- Past 5 years: home prices up 39.9% (~6.9% CAGR)
- A typical $1.9M new launch unit = 7.4x annual household income
🏗️ Developers Are Hungry for Land
- Newton MRT site: 8 bids, top at nearly $1,820 psf ppr
- Bedok Rise site: 10 bids, top at $1,330 psf ppr
- Strong competition risks excessive bidding → higher launch prices
💼 Economic Impact of More GLS Supply
- More projects = more jobs in construction, architecture and engineering
- Supports housing loan growth and new-home agent commissions
- Helps stabilise land prices and reduce market overheating risks
My Take as an Agent: This Was a Missed Opportunity
At a time when:
✔️ market sentiment is positive
✔️ buyers are confident
✔️ developers are aggressively bidding
✔️ interest rates are favourable
— reducing supply may unintentionally fuel further price increases, especially in suburban regions where affordability is already stretched.
More confirmed list supply could have helped spread demand, create more balanced bidding behaviour from developers, and ultimately keep prices more stable for buyers.
Summary — Key Takeaways
- ✅ Strong demand + falling GLS supply = upward pressure on future launch prices
- ✅ Developers are aggressively competing for land, driving record-high bid levels
- ✅ More confirmed-list sites could help moderate price growth and support stability
- ✅ Economic benefits are significant: jobs, construction activity, and transaction volume
- ✅ Market fundamentals suggest H1 2026 could have safely supported >5,000 units
If you're planning your next move — buying, selling, or comparing new launch vs resale — feel free to reach out. I can help you assess the best timing, choices and upcoming GLS supply that may impact prices.