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RESIDENTIAL PROPERTY | Staff Reporter, Singapore
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Developers sold 10,566 homes in 2017

The number surged 33% from 7,972 units sold in 2016.

Singaporean developers sold 10,566 private homes, excluding executive condominiums (EC), up 32.54% from 7,972 units sold in 2016, the Urban Redevelopment Authority (URA) revealed.

According to data, For the whole of 2017, developers launched 6,020 units, compared with 7,877 units in 2016. There were 877 uncompleted private residential units, excluding ECs, launched for sale in Q4, compared with 1,183 units in the previous quarter.

Meanwhile, developers sold 1,864 private residential units, excluding ECs, in Q4, compared with the 2,663 units sold in the previous quarter.

There were no new EC projects for sale in Q4, but there were 446 EC units sold from previous launches. In comparison, developers launched 531 EC units and sold 1,539 EC units in the previous quarter.

For the whole of 2017, developers launched 1,555 EC units and sold 4,011 EC units.

Here's more from URA:

There were 4,226 resale transactions in the fourth quarter of 2017, compared with the 3,949 units transacted in the previous quarter. Resale transactions accounted for 68.1% of all sale transactions in fourth quarter 2017, compared with 59% in the previous quarter. For the whole of 2017, there were 14,043 resale transactions, compared with 7,901 resale transactions in 2016.

There were 120 sub-sale transactions in Q4, compared with the 81 units transacted in the previous quarter. Sub-sales accounted for 1.9% of all sale transactions in Q4, compared with 1.2% in the previous quarter. For the whole of 2017, there were 401 sub-sale transactions, compared with 505 sub-sale transactions in 2016.

As at the end of Q4, there was a total supply of 36,029 uncompleted private residential units (excluding ECs) in the pipeline with planning approvals, compared with the 35,022 units in the previous quarter. Of this number, 18,891 units remained unsold as at the end of fourth quarter 2017, up from 16,031 units in the previous quarter.

After adding the supply of 6,144 EC units in the pipeline, there were 42,173 units in the pipeline with planning approvals. Of the EC units in the pipeline, 864 units remained unsold. In total, 19,755 units with planning approvals (including ECs) remained unsold, up from 17,178 units in the previous quarter.  

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