Source : Straits Times - 16 Sep 2008
WE REFER to last Tuesday’s report by Ms Fiona Chan, ‘Size up home supply again’, and agree with her about the importance of providing relevant information so that industry players and the public can have a better assessment of the market and make informed decisions.
The Urban Redevelopment Authority (URA) makes available a wide range of data on pipeline supply among other real estate statistics in URA Online (www.ura.gov.sg) and the subscription-based Real Estate Information System (Realis at spring.ura.gov.sg/lad/ore/login/index.cfm ).
In our quarterly press release, we highlight the most relevant indicators of the property market that are useful to the public. Members of the public can access URA Online and Realis for more detailed property market information.
Currently, we publish data on the number of units under construction in our quarterly press release, in addition to information on total pipeline supply. For instance, in the second quarter Real Estate Statistics released in July, it was mentioned that based on declarations made by developers, 29,736 units which were under construction would be completed between the third quarter of 2008 and 2011.
Every quarter, the URA also releases the number of units expected to be completed each year based on developers’ declarations. This data is sufficient for the public to ascertain the supply, as well as changes to the supply, coming on-stream in the next few years. Therefore, it is not necessary to release data on the number of units which have had their scheduled completion pushed back or advanced.
The URA will continue to review our real estate information services regularly and look into ways to better provide relevant information on the property market. We thank the writer for her feedback.
Choy Chan Pong
Director (Land Administration)
Urban Redevelopment Authority
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