Modest private home price growth expected in Singapore
Source: https://www.businesstimes.com.sg/real-estate/modest-private-home-price-growth-expected-in-singapore
Useful data from URA had shown that as of 3rd quarter of 2019, there are a total of slightly over 30,000 unsold units in uncompleted private primary home sales with planning approvals. This number is lower than the most recent high of 36,839 experience during end of Q1 2019.
Based on assumption, if developers are able to seller 9000 homes on average in 2021, it will be around 18,000 in total. This will bring down the total number to around 19,000.
The last time the number of unsold units gone below 20,000 was in 2017, with the numbers reaching a low of slightly above 15,000 units at in Q2 that year. This start a wave of collective sales around Singapore. Ki Residences, known as former Brookvale Park, is one of the 999-years development sold during that period.
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