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

Inventory expected to stay low in coming year; strong demand, high land and building costs will also keep prices elevated
11 Dec 2022
Given higher property development and financing costs as well as a diminished housing inventory, developers are unlikely to lower prices at launches in the near future. PHOTO: BT FILE

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...


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

Project nameLocationDeveloperDistrictTenureUnits for sale (estimated)
(Marina View GLS)Union Street /Shenton LaneIOI Properties199-year686
Newport ResidencesAnson RoadCity Developments Ltd2Freehold256
Former AXA TowerShenton WayPerennial Holdings299-year215
Former Maxwell HouseMaxwell RoadCEL & Singhaiyi299-yearTBC
Blossoms By The ParkSlim Barracks RiseEL Development599-year265
The Hill @ One-NorthSlim Barracks RiseKingsford Development599-year142
Terra Hill (Former Flynn Park)Yew Siang RoadHoi Hup Realty & Sunway Developments5Freehold271
Former Gloria MansionPasir Panjang RoadFraxtor Capital5Freehold59
Former Golden Mile ComplexBeach RoadFar East Organisation, Sino Land, Perennial Holdings799-yearTBC
Former Peace CentreSophia RoadSinghaiyi, CEL, KSH999-yearTBC
Former Watten Estate CondominiumShelford RoadUOL & Singapore Land11Freehold286
Gems VilleLorong 13 GeylangEast Asia Development14Freehold24
The ContinuumThiam Siew AvenueHoi Hup Realty & Sunway Developments15Freehold800
Jalan Tembusu GLSJalan TembusuCDL & MCL Land1599-year638
(Dunman Road GLS)Dunman RoadSingHaiyi1599-year1,035
Former La VilleTanjong Rhu RoadZACD15Freehold107
Former East CourtKoon Seng RoadMacly Capital15Freehold19
Sceneca ResidenceTanah Merah Kechil LinkMCC Land, The Place Holdings, Ekovest Development1699-year268
Former Jansen MansionJansen RoadMacly Capital1999-year21
The Reserve ResidencesJalan Anak BukitFar East Organization & Sino Group2199-year700
(Pine Grove Parcel A GLS)Pine GroveUOL & Singapore Land2199-year520
Former JcubeJurong East Central 1CapitaLand2299-yearTBC
Former Lakeside ApartmentsYuan Ching RoadWing Tai Holdings2299-year300
The ArdenPhoenix RoadQingjian Realty2399-year105
The Botany At Dairy FarmDairy Farm WalkSim Lian Group2399-year385
(Bukit Batok West Ave 8 EC)Bukit Batok West Avenue 8Qingjian Realty & Santarli2399-year375
Lentor Hills ResidencesLentor Hills RoadHong Leong Holdings, GuocoLand, TID Residential Pte. Ltd.2699-year595
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