The private home price continues to drop and the vacancy rate inches up in contrary

It was the overwhelming completion of some preeminent Developments in the north-east region that contributes significantly to the 7.9 percent surge in vacancy rates in private property market, reach its peak in past ten years.

Urban Redevelopment Authority data reveals that, the volume of empty private homes climb up to 7.9 percent from its 8.4 peak in 2005 in the second quarter.

It's believed that demand falling behind impetuous housing supply is the cause of vacancy rate's growth. The death transition between the completion and the dwellings left the market with a fundamental over-supply.

Stock and Vacancy of private residential units excluding ECs

As statistic index, the number of unsold homes after the second quarter is 24,435 units of the total supply of 61,237 uncompleted.

Read more at Singapore's private home vacancy rate soars to 7.9% in Q2, highest in nearly 10 years