Thursday, June 25, 2015

High vacancy rate among condos

According to this survey, most condos are darker at night now compared to a year earlier. This could mean that there is a higher vacancy rate among the condos or that the units are leased to tenants who travel more outside of Singapore.

More units are completed in recent months and the owners have not moved into the condos yet, or have difficulty in leasing out the units. The vacancy rate has increased.

So far, the owners are not under much pressure to dispose or lease their units, as interest rate remains low and they can fund their mortgage payments from past savings. But the situation will get more desperate if the vacancy rate remains high for a year or so.

Read this article.

1 comment:

Anonymous said...

Stop companies from playing in the property market.
A house should be a home and not a trading assets.

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