Saturday, January 26, 2013

Over 100,000 private homes and EC units to be available in the next 4 years

It's a healthy pipeline supply.

According to URA, as at the end of 4th Quarter 2012, there was a total supply of 86,475 uncompleted private residential units from projects in the pipeline, higher than the 83,975 units in 3rd Quarter 2012. Of the supply in the pipeline, 36,352 units remained unsold as at 4th Quarter 2012.

There was an additional supply of 10,201 EC units in the pipeline. In total, the pipeline supply of 96,676 units, including ECs, was the highest ever recorded since such data were first available in 2001.

In addition, another 15,215 units are expected to be added to the pipeline supply soon. These units are from Government Land Sales (GLS) sites that had been awarded to developers, but for which planning approvals had not been obtained yet as at 4th Quarter 2012, as well as from Confirmed List sites from the 1H2013 GLS Programme that have not been awarded yet.

If these units are included, there will be close to 111,891 private housing and EC units in the overall pipeline supply, many of which are expected to be completed in the next 3 to 4 years.

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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