02 Dec '16, 2am

#MAS remains cautious on property market #propertynews

Vacancy rates have been rising and reached 8.7 percent last quarter, noted the central bank. The Monetary Authority of Singapore (MAS) remains cautious on the property market outlook, given that demand-supply dynamics may drag down the market, coupled with rising vacancy rates and softer economic and labour market conditions. In its latest Financial Stability Review (FSR), Singapore’s central bank noted that the vacancy rate for private homes hit a high of 8.7 percent in the third quarter of 2016, up from 7.8 percent a year ago. Notably, 43,693 new units are projected to come on stream within the next five years. “The majority of these units have already been sold, with the number of unsold units at a historical low of 20,577 as of Q3 2016. “Assuming a take-up rate of new units equal to that seen in the preceding four quarters, it would take an estimated 2.8 years to clear...

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

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