Originally Posted by no oversupply lah!
Actual supply surplus situation as serious as imagined
(2008-06-04)
Morning Post REVIEW
● Hui-Min Wu
(Hui-Min Wu reported), although the official figures show that within the next 45 months may have Liuqi Wan private residence units completed, but the respondents believe that the real estate sector, the actual supply surplus situation is not as serious as imagined.
This is because some units will be removed in the meantime, some projects will be delayed because the completion of the construction industry and tension. In addition, the two integrated resorts and Singapore's immigration policy will also move to attract more foreigners living in Singapore, to stimulate housing demand.
First Pacific Davies of Qiurui Rong said: "Recently some reports, over the property market to enlarge the supply figures. In fact, the existing potential is sufficient to supply the market to digest, but because of market sentiment has weakened, the Government must be more Carefully the introduction of new sites, so as not to really lead to the surplus situation. "
Recently, several real estate report released by the Bank have estimated that the property market in Singapore (especially the luxury flat prices) over the next three years, fell as much as 30-40 percent. One of the reasons for the local property market is the potential availability of very alarming, as much as Liu Qiwan units
In comparison, the local property market's "ability to digest" is a sharp decline in first quarter of this year only sold 762 units of new private houses, this is the past 12 years has been one of the lowest quarter.
High-power international ZHENG Hui-Yun said: "As the first quarter of 2008, the potential supply of private homes for 67,736, which seems a lot, but if the deduction of about 8500, probably because the collective sale of the units have been removed, and some because of construction Tightening conditions delayed the completion of the unit, as market sentiment weak and delayed the launch units, the actual supply of potential in fact be significantly reduced, with only 45,000 units around. "
In her view, such a supply should be able to easily within the next 45 "to digest." Although the past few years, the local private houses, "the ability to digest" Every year there are only about 7,000 units, but she believed the next few years because demand for two IR, Marina Bay City, and other commercial projects increased.
"From these data, local private houses should not supply the city of excess, but will in the medium term to achieve a balance. However, in order to ensure that countries can achieve long-term housing needs, the Government should continue to ensure a stable supply, especially in At present relatively sluggish development of the private land sales market.