National Development Minister Mah Bow Tan said that property supply pose no threat. He believes the supply pipeline have plenty of homes available for Singaporeans, indicating that over 40,000 units are scheduled to come within the next three or four years onto the market.
The recent market data positively supports his opinion. Savills Research and Consultancy shows a figure that details a healthy stream of launches.
About 5,753 units will be ready in this year’s second half to 5,576 units in the following year. About 13,418 units will be launched in 2011; 13,751 in 2012; and about 11,058 in 2013.
Of those units that will be available within this year until 2012 include 52 percent of the bulk units which will be situated in the prime districts 9, 10, 11 and 15.
The rest will mostly be available by city-fringe developments at the new Marina Bay and Sentosa.
Of the 5,753 units that will be available in the second half of 2009, most are mid-tier, with 2,292 units; and mass-market, with 2,083 units.
These include the 338 units in Carabelle along the west coast; 556 units located in Tanah Merah and Casa Merah; and 610 units in The Centris located at Boon Lay.
The 5,576 units that will be available in 2010 will be focused in prime areas, with 3,304 units available for every buyer to claim.
These include 231 units at The Trillium and 428 units located at Marina Bay Residences. Savills estimates almost 75 percent of the units that are not finished yet have been sold, leaving oversupply with only a little room.
Explosion in supply especially in the prime districts will be experienced in 2011.
Savills figures indicate about 13,418 units scheduled for completion during the year.
About 4,224 units will be located in the mid-tier districts and about half or some 6.512 units in the prime districts.
Among the prime districts developments, Martin Place Residences in River Valley, for instance, will provide 302 units. In Orchard, Scotts Square will provide 338 units and 341 in the Central Business District from One Shenton.
Almost half of the total 13,418 units have been already sold, while the rest are still to be launched or unsold.
The 13,751 units scheduled for completion in 2012 will boost further supply.
The mid-tier market will have about 4,774 units and about 6,414 units from the prime districts. The remaining will be placed for the mass market.
Mid-tier offerings include 336 units from The Arte@Thomson; 200 units in Woodlands from Rosewood Suites; and 417 units at Sinaran in Novena from Soleil.
How the supply condition in 2013 will succeed is ahead of time to be determined right now.
Source: http://www.propertyguru.com.sg/news/2009/8/21563/more-homes-in-the-pipeline