Depleting inventory in new launches

With the recent number of cases on the rise, other aspects are following the upward trend.

In the second quarter of 2021, statistics have shown a total supply of 47,097 uncompleted private residential units with planning approvals. This was lower than the 48,139 units in the previous quarter, showing an increase in depletion of the current inventory.

The current depleting inventory highlights a slightly concerning tightening supply, coupled with the fact there has not been much new land sales by real estate developers, leaving many concerned with the current status of our local real estate market. Despite the decreasing supply, however, the demand for new launches does not seem to be curbing anytime soon.

Market analysts have since concluded that new launches would be driving a higher spice due to the lesser supply of new units available at present and in the near future. Aspiring homebuyers would then have to wait for at least two to three years for new developments to get a headstart on this trend.

With the current market conditions, should you as a home buyer enter the real estate market today? How different will the forecasted prices be for the next batch of new launches compared to the ones now? Here at WonderHomes, we dedicate ourselves to providing you with the best property insights and based on the current market analyses! With our experience of being in the real estate industry for many years, get a comprehensive understanding of your property portfolio today!

Drop by our website at https://www.wonderhomesg.com/ and give us a call!