Outlook sunny for private residential market after Q1, but all eyes on big supply pipeline

Singapore

ANALYSTS continue to harbour bullish outlook on the private residential market, following a 3.9 per cent increase in prices in Q1, but are keeping an eye on the pace of launches that may come onstream, given the huge supply pipeline.

They are, however, split on whether there is enough demand to soak up the impending supply boom.

An estimated 40,300 uncompleted units with planning approvals, excluding executive condominiums (ECs), were in the pipeline as of end-Q1. The figure was 36,029 in the previous quarter.

Of the 40,300, 23,514 remained unsold, up from 18,891 in the previous quarter. (see amendment note)

On top of that, URA said that there is a potential supply of 20,100 units, including ECs, from Government Land Sales (G…