Square Foot Research Singapore

Returned Units - Slamming On The Brakes

Watertown

Forfeiting 1.25% of the property price seems like a high price to pay, but not when you feel prices are coming down, or you when find more attractive options elsewhere. See how today's returned units compare to the last crisis.

There is no official source for returned units. We imply the figures from developers' monthly sales data. As the data is based on the number of valid outstanding options, the actual returned units could be higher, as options are generally valid for 3 weeks and there could be cases where options are issued and unexercised within the same month.
 
Buyers who do not exercise their options forfeit 1.25% of the property price. In the last cycle, returned units peaked at February 2008 where there was a total of 127 units returned (Note that only non-landed properties are considered). Although returned units in May 2012 did hit 150, the total monthly sales in the current cycle is as much as 10 times more. If we express returned units as a percentage of total sales in the previous month, it breached 40% in February 2008 whereas today's level remains less than 10%, although it did spike up slightly in January 2012, presumably due to the new round of cooling measures introduced in December 2011.
 

Implied Returned Units Versus Property Prices

Note: Returned units are implied from developer sales data. Includes only non-landed properties.
Source: URA, https://www.squarefoot.com.sg
Note: Implied returned units are expressed as a percentage of total sales in the previous month.
Source: URA, https://www.squarefoot.com.sg

Implied Returned Units, Breakdown by Project

See returned units for a specific month

Note: Available for the last 12 months only
Note: Returned units are implied from developer sales data. Includes only non-landed properties.
Source: URA, https://www.squarefoot.com.sg
Project Name Project Type Region Total
Units
Returned
Units
Units Sold
Last Month
% Units
Returned
PARC RIVIERA Non-Landed OCR 752 60 200 30.0%
THE SANTORINI Non-Landed OCR 597 13 51 25.5%
SOL ACRES Exec Condo OCR 1,327 12 82 14.6%
THE WISTERIA Non-Landed OCR 216 7 20 35.0%
BELLEWATERS Exec Condo OCR 651 6 - -
THE VALES Exec Condo OCR 517 6 37 16.2%
TRILIVE Non-Landed OCR 222 5 9 55.6%
COCO PALMS Non-Landed OCR 944 5 12 41.7%
D'NEST Non-Landed OCR 912 4 5 80.0%
WESTWOOD RESIDENCES Exec Condo OCR 480 4 25 16.0%
SIGNATURE AT YISHUN Exec Condo OCR 525 3 15 20.0%
SIMS URBAN OASIS Non-Landed RCR 1,024 3 14 21.4%
BELLEWOODS Exec Condo OCR 561 3 15 20.0%
HIGHLINE RESIDENCES Non-Landed RCR 500 3 17 17.6%
THE TRILINQ Non-Landed OCR 755 3 25 12.0%
QUEENS PEAK Non-Landed RCR 736 3 21 14.3%
FOREST WOODS Non-Landed OCR 519 2 7 28.6%
KINGSFORD WATERBAY Strata-Landed / Non-Landed OCR 1,165 2 6 33.3%
THE CREEK @ BUKIT Non-Landed RCR 260 2 8 25.0%
PARC LIFE Exec Condo OCR 628 2 26 7.7%
THE TERRACE Exec Condo OCR 747 2 40 5.0%
THE VENUE RESIDENCES Non-Landed RCR 266 2 28 7.1%
THOMSON IMPRESSIONS Strata-Landed / Non-Landed RCR 288 2 14 14.3%
SYMPHONY SUITES Non-Landed OCR 660 2 11 18.2%
THE RISE @ OXLEY - RESIDENCES Non-Landed CCR 120 1 5 20.0%
AMBER SKYE Non-Landed RCR 109 1 - -
THE BENTLY RESIDENCES@KOVAN Non-Landed OCR 48 1 5 20.0%
FORESTVILLE Exec Condo OCR 653 1 1 100.0%
NORTHWAVE Exec Condo OCR 358 1 5 20.0%
THE BROWNSTONE Exec Condo OCR 638 1 13 7.7%
THE CRITERION Exec Condo OCR 505 1 12 8.3%
VUE 8 RESIDENCE Non-Landed OCR 463 1 21 4.8%
STURDEE RESIDENCES Non-Landed RCR 305 1 13 7.7%
THE VISIONAIRE Exec Condo OCR 632 1 39 2.6%
WANDERVALE Exec Condo OCR 534 1 13 7.7%
THE PANORAMA Non-Landed OCR 698 1 3 33.3%
THE ALPS RESIDENCES Non-Landed OCR 626 1 13 7.7%
NEEM TREE Non-Landed RCR 84 1 - -
KINGSFORD . HILLVIEW PEAK Non-Landed OCR 512 1 3 33.3%

Disclaimer

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