URA property data

Latest Summary for 1Q14
http://www.ura.gov.sg/uol/media-room/news/2014/apr/pr14-29.aspx

- Private Property index -1.3% in 1Q14, -0.9% in 4Q13
- Vacancy rate of completed private 6.6%
- Private under construction: 80261 units, of which 29482 unsold = 36.7% unsold
- Private + EC under construction: appx 105,000 units

Private Completion Target:
2013: appx 14400 units (history)
2014: appx 19500 units
2015: appx 24600 units

Resale Volume
4Q13: 1206 units
1Q14: 899 units

Substantial increase of property auctions from bank sales(forced sales) after cny period, according leaks from locals auctioneers. This is first bank-sales increment in local auctions in recent years, marking the end of property peak.

If you go through the local classified ads 2-3 days ago, you will be shocked at the increase in upcoming of bank auctions. These are the folks who default on interests, not valuation margin-calls.