30 Sep '13, 6am

Slow population growth may lead to housing oversupply in Singapore

Singapore could face an oversupply in the private residential market as a consequence of its population growth, which increased at its slowest pace in nine years reaching 5.4 million in June 2013, up 1.6 percent from 5.31 million during the same period last year. Notably, the non-resident population rose just four percent compared to 15 – 19 percent over 2007 and 2008. This comes after employers hired fewer foreign workers in the non-construction sectors, according to the annual Population in Brief Report from the National Population and Talent Division (NPTD) of the Prime Minister's Office. Excluding foreign domestic workers, foreign employment growth in the non-construction sector fell to 3.5 percent from 7.1 percent in the previous year. The slowdown in population growth combined with the more than 100,000 private homes to be completed between 2H2013 to 2017 could lead ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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