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Chart of the Day: Vacancy rate of private properties dropped 0.3 ppt to 6.8%
A total of 25,105 private homes were unoccupied by end of Q3.
This chart from Savills Singapore shows that vacancy rate in private residential properties slipped to 6.8% from 7.1% in Q2 and 8.4% in Q3 2017.
The research firm found that compared with Q2, the vacant stock of landed houses and non-landed units fell by 0.8% and 4.2%, respectively.
As of end Q3, a total of 25,105 private homes were left unoccupied, sealing a fourth successive quarter of decline.
“A further easing of vacant stock is expected in the near term, supported by limited new completions and the withdrawal of units from collective sales sites done since the second half of 2016,” Savills Singapore commented.
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