What does Singapore’s residential supply pipeline look like?

Residential supply dipped by 0.5% to 35,305 units as of Q4.

As of the end of the final quarter of 2024, a Savills report revealed that Singapore’s pipeline supply of residential properties (excluding executive condominiums (ECs)) which have obtained planning approvals contracted for a third consecutive quarter by 0.5% to 35,305 units.

Here’s more from Savills:

The contraction was lower compared to the 6.1% decline in the previous quarter. Of these, about 55.0% (19,405 units) remain unsold, a 2.7% decrease from the previous quarter. As new sales improve further with an improvement in sentiments and declining interest rates, the unsold units are expected to contract further.

As at Q4/2024, slightly fewer projects obtained their housing developer licences. However, there are still some large-scale developments that have not obtained their housing developer licences. Examples include a residential development at Holland Drive (666 units) and RiverGreen (525 units). As at the date of release of the report, launch or preview of the developments such as The Orie and Parktown Residences, saw strong participation numbers.