The new homes coming up in Holland Village, Kampong Bugis and Marina South under the Draft Master Plan 2013 make up only a tiny portion of the 500,000 new homes that could be rolled out after 2016.
The bulk of that total could come from the redevelopment of various tracts of land freed up by re-zoning or land use changes, consultants said.
However, they noted that builders started planning ahead when the Population White Paper and Land Use Paper were released in January.
Minister for National Development Khaw Boon Wan said in February that the Government has reserved sufficient land to develop another half a million homes.
Consultants on Wednesday said the bulk of these could come from redeveloping Paya Lebar and the Greater Southern Waterfront.
The master plan unveiled on Wednesday said a combined 14,500 units could be built in Holland Village, Kampong Bugis and Marina South.
Another 95,000 new homes in total were announced in four estates earlier this year.
Bidadari will have about 11,000 homes, Tampines North 21,000 and the Tengah new town around 55,000, the National Development Ministry said in January.
The Housing Board added in August that Punggol Matilda will get 8,000 flats.
Singapore has about 1.2 million homes, of which 900,000 are public housing.
Consultants said that the redevelopment of Paya Lebar after 2030 could yield anywhere from 300,000 to 500,000 new homes, depending on the land use plans for the 800ha area.
The plan to move the Paya Lebar Airbase to Changi East was announced by Prime Minister Lee Hsien Loong in his National Day Rally speech earlier this year.
The development of a 1,000ha area to be known as the Greater Southern Waterfront could also yield many homes.
The huge slice of coastal land will be freed up after the ports move from Pasir Panjang and Tanjong Pagar to Tuas by 2027.
Pointing out that the Tanjong Pagar waterfront area is "twice the size of Marina Bay", CBRE Research associate director Desmond Sim reckoned that it could have 18,000 or more housing units.
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