{"id":86928,"date":"2018-05-02T10:22:47","date_gmt":"2018-05-02T03:22:47","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/up-to-29-new-launches-offering-14200-units-for-rest-of-year-report\/"},"modified":"2018-05-02T11:02:50","modified_gmt":"2018-05-02T04:02:50","slug":"up-to-29-new-launches-offering-14200-units-for-rest-of-year-report","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/up-to-29-new-launches-offering-14200-units-for-rest-of-year-report\/","title":{"rendered":"Up to 29 new launches offering 14,200 units for rest of year: report"},"content":{"rendered":"


\nIs the upcoming supply excessive and will it result in an overheating housing market?\u00a0
\nUp to 29 private residential projects could be launched between the second and fourth quarters of this year, supplying about 14,200 new units and raising concerns of an overheating housing market, according to a report from List Sotheby\u2019s International Realty, Singapore.
\nThe report analysed recent en bloc sales and Government Land Sales (GLS) sites, based on the assumption of a period of nine to 12 months for projects to be built on GLS sites to obtain all planning approvals before launching, and a longer period of 15 to 18 months for collective sale sites.
\nMore: Developers\u2019 En Bloc Appetite Diminishing: RHB
\nAs such, the property consultancy identified 29 sites acquired by developers from mid-2016 to August 2017 that could be launched later this year.
\nThe six sites in the Core Central Region are expected to yield 403 units, the Rest of Central Region\u2019s 13 sites could generate 7,327 units, while 10 sites in the Outside Central Region could supply 6,460 units.
\nWhile the volume may seem high, Sotheby\u2019s believes it is not excessive.
\nIt noted that developers launched an average of 15,400 units per year during the three years of recovery (2009 to 2011) following the sub-prime crisis in 2008. And based on Urban Redevelopment Authority statistics, the unsold inventory under construction (launched and unsold, unlaunched projects with planning approvals) held by developers stood at around 35,000 units.
\nBut when demand picked up in 2017, the unsold inventory dropped to 18,900 units by the end of the year.
\nAs such, launching about 15,000 units would not seem too ambitious for three reasons, it said. \u201cFirstly, the market is now on recovery tract, similar to the period of 2009 \u2013 2011. Secondly, developers had sold most of the units in existing projects and reduced the unsold inventory to a manageable number. Thirdly, developers will also likely pace their launches depending on their business strategies.\u201d
\nMoreover, the current en bloc frenzy is expected to slow down in the near future as most of the developers have already built up a substantial land bank. \u201cAs the rate of acquiring sites slows down, it will allow time for developers to recalibrate the estimated supply by phasing the launches,\u201d it noted.
\nThe report added that demand will continue to be driven by low interest rates and liquidity.
\n\u201cWith the cooling measures still in place, end-users who form the underlying demand and investors holding a longer-term view of the market will make up the total demand.\u201d
\nFor the latest property news, trends, resources and expert opinions, visit our\u00a0Property News\u00a0page. Home buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Up to 29 new launches offering 14,200 units for rest of year: report<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Is the upcoming supply excessive and will it result in an overheating housing market?\u00a0 Up...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-86928","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-mC4","jetpack-related-posts":[{"id":89997,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propertyguru-news-roundup-may-2018\/","url_meta":{"origin":86928,"position":0},"title":"PropertyGuru News Roundup (May 2018)","date":"May 31, 2018","format":false,"excerpt":"\r Our top Singapore property stories. Chancery Court In District 11 Sold En Bloc For $401.8m Chancery Court, a privatised HUDC estate right across the road from the Anglo Chinese School campus, has been sold en bloc for $401.78 million, or six percent higher than its reserve price of $390\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/05\/Singapore-property.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":71104,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-sales-soars-by-over-4-fold-says-mnd\/","url_meta":{"origin":86928,"position":1},"title":"En bloc sales soars by over 4-fold, says MND","date":"November 7, 2017","format":false,"excerpt":"\r An aerial view of Rio Casa, a 286-unit development at Hougang Avenue 7. (Photo: Knight Frank Singapore) Collective sales have surged from around 600 units for the whole of 2016 to about 2,700 existing private homes so far this year, revealed the Ministry of National Development (MND) during a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":79198,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-soared-in-2017\/","url_meta":{"origin":86928,"position":2},"title":"Residential investment sales soared in 2017","date":"February 7, 2018","format":false,"excerpt":"\r Singapore investment sales surged by 119 percent to $21.7 billion for the whole of 2017. Residential investment sales in Singapore rose sharply by 184 percent year-on-year to $8.3 billion last quarter and surged by 119 percent to $21.7 billion for the whole of 2017, according to a new report\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114103,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-cautious-gls-bid-causes-8-20-drop-in-land-prices\/","url_meta":{"origin":86928,"position":3},"title":"Developers\u2019 cautious GLS bid causes 8-20% drop in land prices","date":"January 14, 2020","format":false,"excerpt":"\r The muted sales take-up rates seen in existing projects in the vicinity of both sites are possible reasons that developers have placed lower bids. The cautious approach employed by developers towards bidding for land has caused an 8% to 20% drop in land prices including the 5% Additional Buyer\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74508,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-unveils-gls-programme-for-1h-2018\/","url_meta":{"origin":86928,"position":4},"title":"Gov\u2019t unveils GLS Programme for 1H 2018","date":"December 14, 2017","format":false,"excerpt":"\r Six confirmed list sites and nine reserve list plots will be launched under the 1H 2018 Government Land Sales (GLS) Programme, announced the Urban Redevelopment Authority on Wednesday (13 December 2017). These land parcels can potentially yield a total of around 8,045 private dwellings and 63,960 sq m in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100646,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-rise-at-a-much-slower-pace-in-q3\/","url_meta":{"origin":86928,"position":5},"title":"Private home prices rise at a much slower pace in Q3","date":"October 29, 2018","format":false,"excerpt":"\r The URA\u2019s price index rose 0.5% in Q3, compared with the 3.4% increase in the quarter before. Private residential property prices grew at a much slower pace in the third quarter of 2018 as the government\u2019s latest round of property cooling measures in July took their toll. The Urban\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/86928"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=86928"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/86928\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=86928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=86928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=86928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}