Significantly more housing units to be completed in 2014

[avo7007]

CNA:

SINGAPORE: 26,800 Housing and Development Board (HDB) flats and 22,400 non-landed private housing units are projected to be completed in 2014.

The numbers are significantly higher than those projected for this year -- 11,300 HDB flats and 12,500 non-landed private housing units are expected to be completed in 2012.

The National Development Ministry revealed these figures in a written response to questions posed by Pasir Ris-Punggol Group Representation Constitutency (GRC) Member of Parliament (MP) Gan Thiam Poh in Parliament on Monday.

Speaking in Parliament, National Development Minister Khaw Boon Wan said there is a significant supply of housing - both public and private - that will come onto the market over the next two years.

[leesg123]

How are those considered as 'supply' when they are already sold and have owners?

[carbuncle]

How are those considered as 'supply' when they are already sold and have owners?

Probably potential rental supply

[radha08]

Probably potential rental supply

maybe owner stay

[avo7007]

As far as new HDB is concerned, isn't this ramp up supply compensating for the years of under supply? KBW is just playing catch up with demand........

[avo7007]

Double post. Sorry.

[radha08]

ai ya supply supply supply but price still up up up...everyday got new data but price still up...

[fclim]

How are those considered as 'supply' when they are already sold and have owners?

Agree. It is misleading. As at Sep 2012, out of a cumulative 73,073 units launched, 90.3% have been sold. Out of the total available units in the market (including those unlaunched ones), 79% have been sold.

And thanks to the 4 yr SSD, you are not going see a sudden surge of subsale or resale of these units in the next few years.

The real issue is how many more units will be launched in the next two years, NOT how many units will be completed in the next two years.

[carbuncle]

ai ya supply supply supply but price still up up up...everyday got new data but price still up...

price still young of course everyday morning up up up la

[4wheels]

How are those considered as 'supply' when they are already sold and have owners?

It is still supply as many will not stay in. Meaning not likely to be occupied. Then it may turn into "over supply".

[price]

price still young of course everyday morning up up up la

[wind30]

maybe owner stay

Does not matter whether owner stay or rental, either way will put pressure on housing prices.

Owner stay, have to move out of current place... Either they sell current place or rent it out.

I think the real supply only takes effect when the house is completed. That is why housing prices tend to overshoot or undershoot as the feedback is too slow. Takes years before supply hit the market

[Pikachu1245]

ai ya supply supply supply but price still up up up...everyday got new data but price still up...

Price up - those want to buy(20%) complaint
but those already bought happy (80%)

Price down - those already bought(80%) complaint,
those want to buy happy (20%)


How? What should 'Ah Gong' do?
More white hair appear on 'Ah Gong's Head ' liao lo.
Can give chance or not ? Complaint less can?
Dream on.............................lol