Property developers will launch some 8,000 new private homes over the next six months, according to analysts' estimates. While there are small risks of oversupply in the horizon, market watchers told Channel NewsAsia that private property prices should remain stable this year. A consortium comprising Hong Leong Group, City Developments and TID Residential won the tender for the site at Mount Vernon in...
Singapore Property Supply
Almost half of the estimated 8,430 new private homes that are slated to be completed in 2011 will be in the upmarket core central region, according to the Urban Redevelopment Authority (URA). URA has been surveying developers more closely over the last few months in a bid to compile more accurate pipeline supply figures. The agency computes the estimated supply of private housing units in the pipeline...
Analysts don't expect supply glut as developers likely to defer construction of housing projects WHEN long queues outside showflats disappeared overnight during the 1997 Asian financial crisis, the poor demand combined with a supply glut to exacerbate the slump in Singapore's property market. A decade on, the supply side of the equation may be less dire, say pundits. In an analysis of the "supply...
Property consultancy firm DTZ Research said it will take 5.5 years to clear the inventory of unsold private residential units in Singapore as at the end of 2008. There are now 44,661 unsold private residential units. DTZ said based on a 10-year average take-up rate of 8,000 units, selling them all will take more than five years. In its latest report, DTZ said last year's unsold inventory was much lower...
There is a distinct possibility of lower prices with so many developments set to be completed at the same time RECENT arguments against earlier predictions of a private housing oversupply are overblown, and cannot be further from the truth. In fact, those predicting an oversupply are probably understating their case. How bad the market fares will depend on the economy. But, leaving the economic factor...