Land and people form the very basis of every nation. Even though population numbers can be controlled, the physical supply of land is finite. In spite of this constraint, rapid economic and social developments are exerting sustained pressure on the demand for land in urban areas where a significant proportion of the land is allocated for residential use. Thus, it is imperative that urban land is efficiently and optimally used. Optimum utilization of the greater proportion of urban residential land has proved to be an illusion. The paper postulates that this is due to under-pricing and under-utilization of some urban residential lands. The paper concludes, after reviewing the situation in Singapore, that the insatiable desire for more land for residential use will only be attenuated if residential lands are “economically” priced and utilized to optimum capacity.