29 Jun '15, 3pm

New: Singapore Property News This Week #214

According to the Business Times, rising vacancies in the private housing market may suggest that there is an oversupply. A year ago, the Business Times photographed 10 completed condo projects to show that many condo units are still unoccupied. In May this year, a similar photography project was conducted for the 10 developments. However, only one out of the 10 developments was visibly more lit up than last year, said the Business Times. Jacqueline Wong from Savills Singapore said that these developments may appear unoccupied as their tenants may be foreigners who are based here but travel around the region for work. Not only so, these units may be used as holiday homes. Furthermore, Ong Kah Seng added that some local high-net-worth individuals may be holding off from renting out the newly-completed projects due to the weak rentals. On the other hand, experts believe that ...

Full article: http://www.propwise.sg/singapore-property-news-this-week-...

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