Residential Units Launched vs Property Price Index

Source: URA,

Last Update: 3Q2021

Key Observations

  1. From 2004 to the 2007 peak before the Global Financial Crisis, Residential units launched rose in tandem with the Property Price Index.
  2. Units launched then shrank to an all time low in 4Q2008 when GFC hit.
  3. Since 2013’s Total Debt Servicing Ratio (TDSR), supply of Residential Units launched was also falling.
  4. Overall, can we say that when Supply is high, prices should be low, therefore it’s a good time to enter the market?
  5. More likely, units launched will follow the market direction. i.e., when bullish, developers want to launch more to take advantage. When bearish, they hold back for a better timing.
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