There were 6,304 private housing units completed in the fourth quarter of 2014, increasing the number of homes that are ready-to-occupy in the year to 19,444 units, revealed a Savills report.
The report stated that the total number of available private homes across Singapore now stands at 308,814 units.
Special mention was given to d’Leedon at Leedon Heights, which was completed in Q4 and comprises a whopping 1,715 units.
Meanwhile, the slew of new completions is expected to put more downward pressure on rents. According to Savills, as at end-2014, private rents fell 3.0 percent from a year ago, and this is expected to soften further.
But the consultancy noted that rents are not expected to collapse.
“The abundant supply situation does not mean rents will cave in as employment remains high and interest rates are still low relative to the norm,” said Alan Cheong, Research Head of Savills Singapore.
Here’s a look at some newly completed projects that will add to the supply of homes available for rent.
1. d’Leedon (CCR)
Developer: CapitaLand
Tenure: 99-year leasehold
Location: Leedon Heights (D10)
Nearest MRT station: Farrer Road
No. of units completed: 1,715
2. Seastrand (OCR)
Developer: Far East Organization and Frasers Centrepoint
Tenure: 99-year leasehold
Location: Pasir Ris Link (D18)
Nearest MRT station: Pasir Ris
No. of units completed: 473
3. Parc Vera (OCR)
Developer: Sim Lian Group
Tenure: 99-year leasehold
Location: Hougang Street 32 (D19)
Nearest MRT station: Hougang
No. of units completed: 452
4. Terrasse (OCR)
Developer: MCL Land
Tenure: 99-year leasehold
Location: Terrasse Lane (D19)
Nearest MRT station: Kovan
No. of units completed: 414
5. The Miltonia Residences (OCR)
Developer: Hoi Hup Sunway
Tenure: 99-year leasehold
Location: Miltonia Close (D27)
Nearest MRT station: Khatib
No. of units completed: 410
6. SkySuites @ Anson (CCR)
Developer: Allgreen Properties
Tenure: 99-year leasehold
Location: Enggor Street (D02)
Nearest MRT station: Tanjong Pagar
No. of units completed: 360
7. The Tennery (OCR)
Developer: Far East Organization
Tenure: 99-year leasehold
Location: Woodlands Road (D23)
Nearest MRT station: Bukit Panjang (future)
No. of units completed: 338
Image: Facade of d’Leedon. (Photo by CapitaLand)
Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
