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Over 1.4m new flats expected to flood the market by 2018, says MND
Housing stock will grow by about 11%.
Minister for National Development Khaw Boon Wan revealed that Singapore’s housing stock is expected to grow to 1.43 million new units by 2018, an increase of 11% from the current stock of 1.28m units.
Minister Khaw maintained that the residential market has achieved a better balance between sellers and buyers as home buyers now have plenty of choices.
Of the incoming stocks, 75% of the new stock will be allocated to HDB estates, and the remaining would be in the private sector.
OSK DMG expects new home sales including Executive Condominiums to hit 7,000 – 9,500 units this year, while property prices are expected to drop 6-10%.
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