Unsold units are around the 37K average since '98.
OCBC Investment research notes that currently, there are ~44.5k unsold units in the pipeline, including those are under consideration. This, it said, is equivalent to about 3 years of demand given the current rate of sales.
OCBC said that even if we exclude units under consideration which developers could pull out of the market should demand dips, there are still 36.6k unsold units.
Contrary to most, OCBC notes that it does not see this number as particularly onerous – as it is around the 37k average since 2Q98.
Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)
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