The Business Times
business-time-50
SUBSCRIBERS

Unsold private housing stock hits 15-year low, likely to help support prices in 2023

Inventory expected to stay low in coming year; strong demand, high land and building costs will also keep prices elevated

google-preferred-sourceAdd BT as a preferred source

Corinne Kerk

Published Sun, Dec 11, 2022 · 03:41 PM
    • Given higher property development and financing costs as well as a diminished housing inventory, developers are unlikely to lower prices at launches in the near future.
    • Given higher property development and financing costs as well as a diminished housing inventory, developers are unlikely to lower prices at launches in the near future. PHOTO: BT FILE

    THE stock of unsold private housing under construction has been dropping for nine straight quarters to a 15-year low, and is not expected to increase in the new year.

    Combined with strong housing demand and high land and construction costs, private housing prices will likely remain elevated in 2023.

    Based on data that was compiled for The Business Times by ERA Research and Consultancy, the stock of unsold private housing units has been on the decline from Q2 2020 to Q3 2022 – or a total of two years and three months – to reach 5,320 units.

    ResidentialResidential propertySingapore residential propertyProperty developersHousingERA Realty

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    PayPal has struggled despite its storied history as a financial-technology company.

    PayPal plans job cuts as its new CEO pursues turnaround strategy

    Senior Minister of State for Digital Development and Information Tan Kiat How said the government is working with partners who have access to Anthropic's Mythos to understand its capabilities.

    MAS, bank CEOs convene over AI cyberthreats; boards told to own risks, not leave to IT teams

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More