List of Unsold Condo Units in Singapore 2019

To date, a projected number of 56,803 unsold condo units in Singapore till 2023

186

Due to the robust en sales that took place between 2017 till the 1st half of 2018, homebuyers and investors will likely be overwhelmed by the huge number of new launch (or uncompleted) projects which are available in the market right now.

According to the Urban Redevelopment Authority (URA) of Singapore, the total number of uncompleted private homes (excluding executive condos) in the pipeline works out to be a whopping 53,284 by the end of Q1 2019.

In Q4 2018, the number was 51,498 – which means another 1,786 uncompleted homes have been added on to the impending supply.

The worrying part is that the take-up rates are not growing as fast and the supply piles up. By the end of Q1 2019, the number of unsold condo units tallies up to 36,839 – which is 2,015 units more than Q4 2018.

If you were to include the number of unsold executive condo units as well, here’s how the supply numbers will look like for the next couple of years.

Total Number of Unsold Condo Units in Singapore till 2023
Total Number of Unsold Condo Units in Singapore till 2023
Expected Year of
Completion
Private Residential
Units
Executive
Condominiums
Total
Units
2Q-4Q2019 6,717 1,028 7,745
2020 4,231 628 4,859
2021 13,078 13,078
2022 20,116 20,116
2023 8,628 1,863 10,491
>2023 514 514
Total 53,284 3,519 56,803

In case you are wondering why was there a ‘craze’ in the collective sale market and the period when homebuyers and investors were on a buying spree, here’s a chart from URA showing the total number of unsold condo units since 2Q 2014.

Total Number of Unsold Condo Units in the Pipeline
Total Number of Unsold Condo Units in the Pipeline

The supply of private homes and ECs was at the lowest points from the start of 2017 and when supply is heading south and demand is heading north, it’s natural to trigger more buying interest at this point of the trend and it’s possibly the best time to hedge onto the next upcycle.

However, the government has put a stop to this frenzy by introducing a new round of property cooling measures back in July 2018 and reducing the land supply in the latest government land sales (GLS) programme. Thus, it’s very likely that we will see a repeat of 2014 – 2016 when the property market was filled with unsold condo units.

That was actually the time period when developers were very conservative with their price points and dare not make significant price increments. And obviously, that was perhaps the best time for buyers to enter the market before the next uptrend (when housing supply runs low again) – which will likely be after 2022.

The list of unsold condo units in Singapore 

With an impending surge of private homes in Singapore before 2022, I’ve prepared a list of unsold condo units in Singapore for 2019 and it will be updated monthly. I believe this will help you to source out the best deal during this relatively lull period.

Instead of looking at the full list of unsold condo units in Singapore (update on 09 June 2019), I’ve broken it down into the 3 different regions or localities:

  • Core Central Region or CCR (downtown central and high-end districts)
  • Rest of Core Central Region or RCR  (city fringe locations)
  • Outside Central Region or OCR (mainly mass-market and suburban areas)

The list is sorted accordingly to the number of units sold within the latest month. I guess it’s a good indication of the popularity of the condo project among homebuyers and property investors.

Unsold Condo Units in CCR

Project Name Tenure Total No. of Units Total Unsold Units Sales for Apr 19 Average Price (PSF)
Boulevard 88 Freehold 154 109 20 $3,655
Marina One Residences 99 Years 1042 451 18 $2,530
3 Cuscaden Freehold 96 46 17 $3,486
RV Altitude Freehold 140 114 7 $2,982
Martin Modern 99 Years 450 128 6 $2,719
Fourth Avenue Residences 99 Years 476 395 4 $2,453
Wilshire Residences Freehold 85 81 4 $2,670
Fyve Derbyshire Freehold 71 63 3 $2,420
35 Gilstead Freehold 70 66 1 $2,539
Parksuites 110 years 119 101 1 $2,012

Unsold Condo Units in RCR

Project Name Tenure Total No. of Units Total Unsold Units Sales in Apr 19 Average Price (PSF)
The Tre Ver 99 Years 729 210 81 $1,624
Stirling Residences 99 Years 1259 610 51 $1,780
Parc Esta 99 Years 1399 880 39 $1,674
Park Colonial 99 Years 805 203 23 $1,839
Artra 99 Years 400 65 18 $2,006
Jadescape 99 Years 1206 808 15 $1,707
Kent Ridge Hill Residences 99 Years 548 384 15 $1,692
Mayfair Modern 99 Years 171 157 14 $2,017
Margaret Ville 99 Years 309 138 11 $1,697
Coastline Residences 99 Years 144 134 10 $2,497
1953 Freehold 58 34 6 $1,862
Amber 45 Freehold 139 34 6 $2,078
Park Place Residences at PLQ 99 Years 429 7 6 $1,720
Mayfair Gardens 99 Years 215 79 4 $1,921
Rezi 24 Freehold 110 102 4 $1,512
The Addition Freehold 26 5 4 $1,810
Arena Residences Freehold 98 44 3 $1,858
Daintree Residence 99 Years 327 277 3 $1,579
Jui Residences Freehold 117 65 2 $1,833
One Meyer Freehold 66 55 2 $2,679
Nyon Freehold 92 89 1 $2,320
The Poiz Residences 99 Years 731 3 1 $1,373

Unsold Condo Units in OCR

Project Name Tenure Total No. of Units Total Unsold Units Sales in Apr 19 Average Price (PSF)
Parc Botannia 99 Years 735 169 61 $1,294
Treasure at Tampines 99 Years 2203 1865 51 $1,206
Riverfront Residences 99 Years 1472 485 50 $1,308
The Florence Residences 99 Years 1410 1292 44 $1,441
Affinity at Serangoon 99 Years 1052 542 35 $1,493
Whistler Grand 99 Years 716 402 29 $1,380
Seaside Residences 99 Years 841 91 12 $1,949
The Garden Residences 99 Years 613 479 11 $1,560
Rivercove Residences (EC) 99 Years 628 1 8 $1,010
Le Quest 99 Years 516 125 7 $1,392
The Jovell 99 Years 428 355 6 $1,273
The Essence 99 Years 84 74 5 $1,385
The Tapestry 99 Years 861 245 5 $1,351
Belgravia Green Freehold 81 38 4 $897
Forest Woods 99 Years 519 9 3 $1,522
Grandeur Park Residences 99 Years 720 21 1 $1,500
Northwave (EC) 99 Years 358 1 1 $982
The Navian Freehold 48 4 1 $1,657
Watercove Freehold 80 9 1 $692

If you would like to receive the full monthly-updated list of unsold condo units in Singapore and other updates via email, simply just indicated your interest by using the form below.

Final Word

Let’s face it – when the Singapore property market was experiencing a downturn back from 2014 to 2016, many homebuyers or investors were thinking that the market was going to crash and thus hoping to rip a good deal (or a cheap one) from sellers or developers. Unfortunately, that did not happen as frequently as most would hope for.

In fact, by looking at the current price points of these developments with unsold condo units in Singapore, you will never be able to find anything that matches the price points which were seen in 2014 – 2016.

I am not saying that all of these unsold condos listed are all good buys, but it certainly helps if you study this list over time as I continue to update it.

Pick the one that matches your own requirements and one that fits you. And if you need help or real-time update of the condominium of your choice, you can always reach me at (+65) 6631-8384 or drop me note using the contact form below.

Thanks for reading and please help to share if you find this article useful!

Register your interest to gain privileged information

Sending
You might also like
Comments
Loading...