S'pore empty homes may climb to highest since 1998

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.