The Real Estate Developers’ Association of Singapore (REDAS) announced during its Chinese New Year lunch that developers are looking to quickly launch projects to ride the current buoyant property market.

REDAS president Simon Cheong said,” Many of us are now caught with a depleting land bank”. Revealing that developers were surprised at the speed of the market recovery last year, he said that the long-term solution to a stable market is still adequate supply.

Cheong  added that with an adequate supply in the pipeline, excessive speculation can be avoided in the property market.  He remarked that with this buoyant market, “developers will be actively bidding for more land to position for the future supply”.