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Thursday, September 7, 2017
Latest bout of en bloc sales could yield over 12,000 new homes
ABOUT 12,000 new private homes could potentially be generated from the 10 residential collective sales that have been transacted since last year as well as another seven launched whose tenders have yet to close or be awarded.
While the above analysis by JLL suggests a substantial supply of private homes that could be launched - mostly in the second half of 2018 and in 2019 - the property consulting group is not alarmed. It argues that this will be timely as the pipeline supply of unsold uncompleted private homes has dwindled to 15,085 units as at the end of the second quarter of 2017 - from 21,489 units a year earlier, and the recent peak of 39,184 units as at the end of the fourth of 2011. These figures from the Urban Redevelopment Authority (URA) are for projects with planning approvals.