Frustrations abound as delays in condo completions persist post-pandemic

WHEN Sabrina Tan bought her one-bedroom condo at then-newly launched The Tre Ver residential project in 2018, she did not think that it would take four years, two postponements, and countless frustrations before she could collect the keys to her home – and she is not alone.

Many developers are still grappling with delays brought on by the pandemic, which have, in turn, caused a pile-up in project completions. Numerous projects that were supposed to receive their temporary occupation permit (TOP) in 2022 have been delayed, with developers pushing back deadlines and buyers unable to collect their keys. 

Based on data from the Urban Redevelopment Authority (URA) as at the fourth quarter of 2021, an estimated 17,276 private residential units, excluding executive condos, will be launched in 2023. The pipeline supply for 2023 – defined as projects that have obtained provisional permission or written permission – was updated to 18,234 units in URA’s latest dataset, as at Q3 2022.