Home sweet home: More units to be up for grabs in 2014

A whopping 20,000 private residential units are expected to be complete in 2014 and 2015.

According to Maybank Kim Eng, as at the end of 4Q11, there were 279,198 completed private residential units and 81,600 uncompleted ones in the pipeline.

Here's more from Kim Eng:

Of the uncompleted units, about half, or 41,000 units, remain unsold. Assuming an average take-up of 1,200 units a month, the supply is equivalent to nearly three years worth of demand in the primary market. We estimate about 50% of the unsold units are located in the Outside Central Region (OCR), 25% in the Rest of Central Region (RCR) and the remaining 25% in the Core Central Region (CCR). The years 2014 and 2015 will see the largest number of completed units coming on-stream, with more than 20,000 units expected to complete each year.

Keeping the supply tap on. The 14 sites placed on the 1H12 GLS Confirmed List can yield approximately 7,020 housing units, down from the 8,115 units in 2H11. EC sites make up 41% of the GLS supply in 1H12, up significantly from 14% in 2H11. Since the Confirmed List was revived in 1H10, a total of 66 residential sites had been sold via the GLS programme, which could yield at least 30,500 housing units, predominantly in the suburbs.

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