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Posting on his Facebook page [Link] on 25 Oct, National Development Minister Khaw Boon Wan said that the government is making good progress in its ramp-up of the home building programme.
Mr Khaw said, “The number of new public and private residential units ready for occupation in the next three years is increasing.”
The earlier projection of 197,559 units has been outstripped, he said.
“The new number now is 204,461,” he beamed.
More than 21,000 residential units have already been built this year and another 9,220 units will be ready by year’s end.
Meanwhile, prices of private residential properties in Singapore are still going up, by 0.4% in the third quarter of 2013 over the previous quarter.
URA said that rents for private residential properties also went up, by 0.2% in Q3.
Looking ahead, URA said about 107,400 private homes and executive condominium units are in the pipeline, many of which are expected to be completed in the next 3 to 4 years.
Nicholas Mak, executive director at SLP International, said, “And if our population is not increasing at that very high rate, what we could see is that rental rates could be depressed. And this will in turn lead to even slower price growth, and even stagnate the rate of price increase totally.”
More data is available at the following URA and HDB webpages:
Private Property: http://bit.ly/1heDZGp
Upcoming Housing Supply: http://sg.sg/13KzcWs
Transacted Sale Price: http://sg.sg/WlCw4F
Rental Rates for Individual Flats: http://sg.sg/WXtY7L
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