Chart of the Day: Over 23,000 homes set to flood the market in the next three quarters

Another 15,000 units will be completed in 2017.

A total of 23,062 residential units and Executive Condominiums (ECs) are expected to be completed over the next three quarters of the year, according to statistics from the Urban Redevelopment Authority (URA).

A total of 2,919 private condos and 2,015 ECs were completed in the first quarter, meaning that some 27,996 units will be completed for the entire year.

This compares with the 22,267 units which were completed in 2015.

Supply remains high in 2017 and 2018, during which 15,643 units and 15,805 units are expected to be completed, respectively.

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