Savills reported that 75,188 private residential units are in the pipeline as at end 2014, of which 21,359 will be completed by the end of 2015. Of the supply, only 42,218 units (56.1 per cent) have been sold.

New projects will continue to be released into the market, with a majority of the 2015 releases located in the Outside Central Region (OCR).

Savills highlighted ten major property launches homebuyers should look out for – Botanique at Bartley, Kingsford Waterbay, North Park Residences, Symphony Suites, Marine Blue, Sims Urban Oasis, Parksuites, Pollen & Bleu, South Beach Residences and Victoria Park Villas.

Ms Grace Ng, Deputy Managing Director at Colliers International, recommends homebuyers purchase property now, in the face of rising interest rates.

She told Singapore Business Review that home prices are expected to drop by another five to eight per cent in 2015, and homebuyers should buy while interest rates are still low.

Taken from ST Property