A NEW study on the upcoming supply of private residential units from development sites sold suggests that oversupply risks, if any, may be contained within certain districts.
Islandwide, only Districts 3, 5, 13, 18 and 19 appear to have a relatively high number of upcoming residential units in relation to the current completed units there – in the proportions of 12 to 34 per cent.
Each of these districts has at least 2,000 units that can be launched from sites sold to developers under government land sales (GLS) and collective sale sites, the study by Cushman & Wakefield shows.
ARE developers still on a prowl for land? That question naturally cropped up when the public tenders of 10 or more collective sale sites closed without concluding a sale in recent months.
But four of such sites have since found buyers under private treaty, which market watchers were quick to attribute …