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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

Vacancy rates for private residential homes rose to 7.1 per cent during the quarter ended Sept 30, up from a low of 4.6 per cent in March 2010 and the highest since March 2006, URA data showed.


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...

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