Over 3,500 new private homes set to be launched in Q4
Analysts expect new launch prices to hold at current levels; projects to be pegged above S$2,000 psf
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MORE than 10 private residential projects offering over 3,500 housing units are slated to be launched in the fourth quarter of this year. Prices are likely to hold at current levels, despite signs of homebuyers’ waning appetite, with financing and land costs still high in the wake of market cooling measures, analysts say.
Five projects said to be lined up for a Q4 launch will yield around 2,370 units. These will add to an existing stock of uncompleted properties that is steadily accumulating as take-up at new projects slows.
Against a background of slowing sales, latest caveats data from the Urban Redevelopment Authority’s (URA) Realis platform indicates that in the year so far, the median price for the mass-market segment is around S$2,074 per square foot. This includes new suburban private homes, excluding executive condominiums (ECs), in the Outside Central Region (OCR).
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