Number of vacant private homes climbed to over 21k in Q3

Island-wide vacancy rate is at 7.1%.

The number of vacant private homes climbed to 21,569 in the third quarter, up 1.4% from 21,268 vacant private homes in Q2.

According to Savills, the vacancy rate of private residential units remained flat at 7.1% in Q3, following five consecutive quarters of increase since 2Q13.

“The high leasing demand seen in the record number of lease transactions inked in this quarter has resulted in more homes being occupied,” noted Savills.

Data released by the Urban Redevelopment Authority showed that leasing volume of private residential properties jumped 15.2% qoq in the third quarter to 17,775 cases.

Meanwhile, there were a total of 302,510 available private homes in Singapore in Q3, an increase of 1.5% from the 297,998 units at the end of June.

“The majority of new homes granted Temporary Occupation Permits in the period of July to September were mostly located in the OCR while there was only one major project, The Meyerise with 239 units, completed in the RCR,” noted Savills.

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