Published:
Chart of the Day: Government Land Sales private housing supply to drop 18% in 1H14
Brace yourselves for some bad news.
According to Barclays, on 18 December, after holding total half-yearly supply relatively steady at c14,000 units of private housing, the Singapore government announced that it is reducing this number by 18% to 11,585 units for 1H14.
Here's more from Barclays:
In particular, private housing on the Confirmed List would be reduced 22% h/h to 2,465 units and, including the quasi-public Executive Condominiums (ECs), this would be reduced 22% to 4,630 units.
We believe this reflects the government’s view that there is an oversupply on the horizon, and that prices have stabilised/softened recently.
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