Unsold private housing stock hits 15-year low, likely to help support prices in 2023

THE stock of unsold private housing under construction has been dropping for nine straight quarters to a 15-year low, and is not expected to increase in the new year.

Combined with strong housing demand and high land and construction costs, private housing prices will likely remain elevated in 2023.

Based on data that was compiled for The Business Times by ERA Research and Consultancy, the stock of unsold private housing units has been on the decline from Q2 2020 to Q3 2022 – or a total of two years and three months – to reach 5,320 units.

This represents the longest period of consecutive quarters of declining stock since such data was made available by the Urban Redevelopment Authority from...

Reference

Private residential property: stock of unsold units & price index SOURCE: URA, ERA Research & Consultancy

Future residential launches, as at Nov 30, 2022 (arranged by district)

Click each project name for more information