Cooling the market by having more land sales

I”m not sure if this is the correct thing to do, but technically it is economically sound. Price is determined by Demand and Supply. By increasing the supply, and creating a surplus, it will dampen the demand by providing the market with an ample supply. But the market dynamics seems to be quite skewed, with new condo sales doing extraordinarily well, clocking new record highs, while the private resale market seems to be in the doldrums, despite the lower psf prices, it isn’t attracting the buyers, and clocking as much transactions.

As such the strategy to release more land via GLS relevant in the current market?

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