Vacancy rate of private homes hit 10-year high of 8.1%: URA data

An aerial view of Cairnhill estate in Orchard Road.
An aerial view of Cairnhill estate in Orchard Road. PHOTO: ST FILE

SINGAPORE - The private home vacancy rate rose 0.3 percentage points to 8.1 per cent in the fourth quarter of last year, marking the highest vacancy rate recorded since 8.4 per cent in the fourth quarter of 2005.

This represents about 26,517 vacant private homes, up from 25,169 in the third quarter.

It comes after 18,971 private homes were completed last year amid a weaker economic outlook for Singapore and falling immigration numbers.


GRAPHIC: URBAN REDEVELOPMENT AUTHORITY

 
 

A total of 21,906 private homes are set to be completed this year, 14,351 next year and 10,402 in 2018.

On the executive condominium (EC) front, the vacancy rate fell 2.1 percentage points to 8.4 per cent.

This represents 1,540 unoccupied EC units, down from 1,847 in the third quarter.

A total of 3,296 ECs were completed last year. A further 4,561 will be completed this year, 2,883 next year and 5,821 in 2018.