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Unsold private housing stock on the rise ahead of ramp-up in new launches in 2024

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Ry-Anne Lim

Ry-Anne Lim

Published Wed, Mar 13, 2024 · 05:00 AM
    • The rising level of unsold stock may signal bad news for some projects, such as the 99-year leasehold Cuscaden Reserve (centre), with an impending sales deadline this year.
    • The rising level of unsold stock may signal bad news for some projects, such as the 99-year leasehold Cuscaden Reserve (centre), with an impending sales deadline this year. PHOTO: BT FILE

    SINGAPORE’S inventory of unsold new private homes rose 20 per cent over the last two years and is expected to continue growing in 2024, as more projects come to market.

    This could signal bad news for some residential projects that are approaching a critical sales deadline this year or the next – to clear almost all unsold units or stump up a hefty stamp duty payment running into the tens of millions of dollars. 

    According to latest quarterly data from the Urban Redevelopment Authority, unsold stock comprising unsold units in completed and uncompleted projects grew 20.4 per cent, from 14,333 units in the fourth quarter of 2021 to 17,262 units in Q4 2023. 

    ResidentialResidential propertySingapore residential propertySingapore propertyprivate home sales

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