Housing glut to worsen before tapering from 2017: UOB report

Singapore

SINGAPORE'S housing glut will worsen in the near future as more public and private units come on stream and only start to ease from 2017, with the government potentially reviewing property cooling measures, a report by UOB Global Economics and Markets Research said.

Private completions surged 52 per cent year-on-year to a 20-year high of 19,900 units in 2014, which was significantly higher than the Urban Redevelopment Authority's (URA) projections at the start of the year, said the report.