27,000 uncompleted private homes unsold

Romesh Navaratnarajah29 Apr 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


You may also like these articles

Bishan flat sold for over $1 million

An executive maisonette in Bishan was sold for $1.05 million this month amid the falling resale flat price index, revealed online data from the HDB and reported in the media. Located in Block 192 a

Continue Reading28 Apr 2015

Tampines site draws 12 bids

The tender for a 168,567 sq ft residential site at Tampines Avenue 10 (Parcel D) closed on Tuesday, 28 April after attracting 12 bids, revealed the Urban Redevelopment Authority (URA). Chinese deve

Continue Reading29 Apr 2015

Resale condo prices up 0.2% in March

Prices of completed non-landed residential properties are beginning to creep up again after four months of decline, revealed the NUS Singapore Residential Price Index (SRPI). In March 2015, prices

Continue Reading29 Apr 2015