Indicators are pointing to housing oversupply, while the vacancy rate for private homes is approaching recession levels. But property prices have remained firm. Channel NewsAsia asks property analysts why the rising supply has not resulted in a proportionate fall in prices.
SINGAPORE: The growing vacancy rate in the private housing market is something property developers have been harping on for the past couple of years. At 8.9 per cent, official data shows the vacancy rate for private residential units at a 16-year-high, nearing levels seen in the aftermath of the 1997 Asian financial crisis.
Tagged in:
Affordability base on Total Household Income
Aftermath of Asian financial crisis
Current economic slowdown
Determined by US interest rates
High vacancy rates
Housing oversupply in Singapore
Increase in home vacancy rate
Leverage in non-productive assets
Outlook on Sing Dollars
Population and job creation
Singapore exchange rates
Unemployment Rate Versus Property Price Index PPI
Vacancy rates versus Property Price Index PPI