Homes alone: Unsold units to breach record high in 2012

Launched but unsold unit numbers surging as developers hold back releasing units from the first half of the year.

From January to May 2012, about 2,500 units were launched per month. A total of 14,272 new homes (including ECs) were launched this year, a five- month record.

This number has also surpassed the total launched for the full year prior to 2010.

As supply outstripped demand, the number of launched but unsold units
picked-up, reaching a historical high of 8,245 units (including 933 ECs) in May.

According to Savills analyst Alan Cheong, with more projects planned for launch in the second half of this year,
the number of launched but unsold units is poised to hit a record high in 2012.

Here's more from Cheong:

A number of major launches of projects on large government land sites may be on the cards within the next six months.

They include the 920- unit Riversails by Allgreen Properties Ltd, the 618-unit Parc Centros by Wee Hur Holdings Ltd and the 486-unit Parc Olympia by Koh Brothers Group Ltd.

There are also upcoming launches in the CCR, including the 510-unit V on Shenton by United Industrial Corporation Ltd, the 381-unit Leedon Residence by Guocoland Ltd and the 55-unit The Nassim by CapitaLand Ltd.

The 350-unit residential development by Tuan Sing Holdings Ltd in the RCR.

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