Chart of the Day: Singapore hits record residential pipeline supply

Another 10,070 units are expected to be added soon.

The Urban Redevelopment Authority reported:

As at the end of 3rd Quarter 2012, there was a total supply of 83,975 uncompleted private residential units from projects in the pipeline, higher than the 83,251 units in 2nd Quarter 2012. Of the supply in the pipeline, 36,606 units remained unsold as at 3rd Quarter 2012.

There was an additional supply of 9,824 EC units in the pipeline. In total, the pipeline supply of 93,799 units, including ECs, was the highest ever recorded since such data were first available in 2001.

In addition, another 10,070 units are expected to be added to the pipeline supply soon. These units are from Government Land Sales sites that had been awarded to developers, but for which planning approvals had not been obtained yet as at 3rd Quarter 2012, as well as from Confirmed List sites from the 2H2012 GLS Programme that have not been awarded yet. If these units are included, there will be close to 104,000 private housing and EC units in the overall pipeline supply, many of which are expected to be completed in the next 3 to 4 years.