25 Aug '14, 3am

Empty homes on the rise in S'pore

Comment E-mail to friend Bookmark & Share The number of vacant private homes in Singapore is steadily rising, climbing 10.3 percent to 21,268 units in Q2 2014 from 19,284 units in the previous quarter, revealed a Savills report. Notably, the vacancy rate rose to 7.1 percent from 6.6 percent in Q1. The greater number of empty units on the market comes despite strong leasing demand in Q2, with rental deals reaching a record 15,053 transactions, or a 12.2 percent increase from the quarter before. According to Savills, the increasing stock of housing units is a contributing factor. “At the end of Q2 2014, there were 297,998 available private homes across the island, an increase of 1.6 percent from the 293,283 units at the end of March,” the report said. Most came from completed suburban condominium projects such as The Lakefront Residences on Lakeside Drive (629 units), Foresq...

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

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