Chart of the day: Unsold private residential units increases in Q2
A total of 2,682 units were completed in Q2 2022.
This chart from the Urban Redevelopment Authority (URA) shows the total number of unsold residential units as well as unsold residential executive condo (EC) units in Singapore.
The chart reveals that unsold units increased in Q2 of 2022, with a total of 15,805 units with planning approvals unsold for the quarter compared to 14,087 units in Q1.
After adding the supply of 5,333 EC units in the pipeline, there were 54,169 units in the pipeline with planning approvals. Of the EC units in the pipeline, 1,701 units remained unsold. In total, 17,506 units with planning approvals remained unsold.
The chart also shows that since Q1 2019, unsold private residential units and unsold EC units in Singapore have started to decrease.
According to the URA, a total of 2,682 units (including ECs) were completed in the 2nd Quarter of 2022, significantly higher than the 819 units (including ECs) completed in the previous quarter. Based on the expected completion dates reported by developers, 7,195 units (including ECs) will be completed in the remaining 2 quarters of 2022.
Prices of private residential homes have gone up in Q2.