List of Unsold Condo Units in Singapore 2023

Due to the robust en bloc 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.

However, a huge portion of the supply has been absorbed by the market since late 2020.

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 46,041 by the end of Q4 2022.

In Q3 2022, the number was 49,384 – which means 3,343 uncompleted homes have been added to the impending supply.

The encouraging part is that the take-up rates are growing as fast, if not faster than the supply piling up.

By the end of Q4 2022, the number of unsold condo units tallies up to only 16,024  – which is up from the 15,677 units recorded in the previous quarter.

In short, only 347 units were added within a span of 3 months. Honestly. that’s not a lot.

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

Learning from historical trends

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.

The supply of private homes and ECs was at the lowest point from the start of 2017.

As a result, developers were heavily bulking up their land banks with multiple land acquisitions between 2017 to 2018.

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.

Let’s look at the latest chart provided by URA.

Thus, over the last couple of years, we saw 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.

Obviously, that was perhaps the best time for buyers to enter the market before the next uptrend (when the housing supply runs low again), which technically is the current market situation.

Based on the rightful trend, we should have seen a huge influx of land sales and en bloc sales between 2021 to 2022.

It did look like we will repeat the 2017 – 2018 frenzy until the Singapore government stepped in with property cooling measures in Dec 2021.

Otherwise, we would be seeing many more unsold condo units projected for 2023 and 2024.

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.

Hence, now is possibly the best time (or even the last chance) to hedge onto the next upcycle by tapping on developers’ old stock of unsold condo units in Singapore.

The list of unsold condo units in Singapore 

With an impending surge of new private homes in Singapore this year, I’ve prepared a list of unsold condo units in Singapore for 2023 and it will be updated monthly.

I believe this will help you to source the best deal during this property-buying spree.

Instead of looking at the full list of unsold condo units in Singapore (updated on 07 Jun 2023), 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 consists of developer sales for the whole of April 2023. It is sorted accordingly to the number of units sold within the latest month.

I guess it’s a good indication of the popularity of each of the condo projects and what homebuyers and property investors are paying for.

Unsold Condo Units in CCR

Unsold Condo Units in RCR

Unsold Condo Units in OCR

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.

Similar sentiments were felt over the last 2 years when the nation was affected by the COVID-19 pandemic.

However, prices remain strong in the new homes segment and the buying demand keeps increasing.

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.

In my opinion, there’s absolutely no rush to buy into the new launch property market right now.

This is because we are expecting more projects to be released in 2023 & 2024, and I believe they will be listed for sale at very competitive price points due to supply in the market.

Hence, you can take your time within these 2 years to pick the right one that suits your needs as it is the most ideal window to purchase a new launch condo.

I am not saying that all of these unsold condos listed are 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 a real-time update on the condominium of your choice, you can always reach me via Whatsapp or drop me a note using the contact form below.

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