Chart of the Day: This graph shows the alarming rise in vacant private homes

Vacancy rate crept up to 6.2%.

According to Savills, as of Q4/2013, there were 18,003 vacant units out of the current 289,370 available private homes across the island.

This translates to a vacancy rate of 6.2%, inching up marginally by 0.1 of a percentage point from the previous quarter.

Here's more from Savills:

The increase was due to the spike from 2.7% to 7.1% in the North-East region, whereas vacancy rates declined in the other regions.

Some major projects completed in Q4/2013 are located in suburban or city fringe areas, such as The Minton on Hougang Street 11 (1,145 units), The Scala on Serangoon Avenue 3 (468 units), Spottiswoode Residences on Spottiswoode Park Road (351 units) and Vista Residences on Jalan Datoh (280 units).

Meanwhile, the latest high-end projects added to the market comprised The Glyndebourne on Trevose Crescent (150 units) and L’VIV on Newton Road (147 units).

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