27,000 uncompleted private homes unsold

Romesh NavaratnarajahApril 29, 2015

new homes supply

Recent data from Singapore’s Urban Redevelopment Authority (URA) shows that 21,319 residential units are expected to be completed over the next three quarters of this year while another 25,769 units are set to be completed in 2016, media reports said.

The figure which includes executive condominiums (ECs), is on top of the 23,298 units completed last year.

After 2016, URA expects the number of completions to moderate to 16,186 units by 2017 and 15,642 units by 2018.

URA also revealed that the number of uncompleted private units in the pipeline (excluding ECs) stood at 68,201 units as at end-Q1 2015, down from 68,960 units in the quarter before.

Of this, 27,061 homes are still unsold as at Q1. This is 1.2 percent up from 26,742 units in the previous quarter.

Including the 15,441 ECs, the total supply in the pipeline stands at 83,642 units.

 

Pipeline supply

Source: URA

 

Romesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg

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