S'pore empty homes may climb to highest since 1998
Increasing number of apartment vacancies is putting pressure on some landlords and giving the upper hand to tenants
Singapore
SAM King had a pleasant surprise when the lease on his Singapore apartment came up for renewal late last year. For the first time in six years, Mr King was able to negotiate a lower rent with his landlord.
"It has turned into a tenant's market," said the 29-year-old sales director at an aviation services company, who got a 10 per cent reduction in the rent on his two-bedroom penthouse in the east of Singapore. His landlord also agreed to split some renovation costs, and provide new curtains and lights.
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