SINGAPORE - Singapore is on the declining limb of the property cycle, and looming supply is likely to bring home vacancy rate to a record high, said Redas president Augustine Tan on Friday.
He noted that vacancy rate at the end of last year is close to 8 per cent, or 24,000 units.
It is an increase of 54 per cent over the vacant stock in 1998 when the vacancy rate last peaked at 9 per cent.
However, total stock rose almost 80 per cent during the same period and is at almost 309,000 units.
He noted that vacancy rate at the end of last year is close to 8 per cent, or 24,000 units.
It is an increase of 54 per cent over the vacant stock in 1998 when the vacancy rate last peaked at 9 per cent.
However, total stock rose almost 80 per cent during the same period and is at almost 309,000 units.