Private home vacancy rate eases in first quarter: URA

The vacancy rate of private homes moderated to 7.2 per cent in the first quarter of this year, the Urban Redevelopment Authority said on Friday. This means that there were fewer vacant homes.

This represents 22,346 vacant units, down from 24,062 or a vacancy rate of 7.8 per cent in the fourth quarter of last year.

At the end of the first quarter, there was a total supply of 68,201 uncompleted private homes, excluding executive condominiums (ECs) in the pipeline, slightly lower than the 68,960 units in the fourth quarter.

Of this number, 27,061 units remained unsold as at the first quarter, the URA said.

EC vacancy rates were up however to 15.1 per cent, from 11.5 per cent in the fourth quarter.

This represents 2,446 vacant units, up from 1,734 units previously. There are a further 15,441 EC units in the pipeline.

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