The resale market is rather lacklustre. Vacancy rates at executive condominiums are at their highest level in more than five years. Demand for HDB flats has cooled, so upgraders take a significantly longer time to sell their HDB units.
Vacant EC units rose to 16.2% in the third quarter, from 12.2% in the second quarter and justt 6% in the first. The 2,375 vacant units came mostly from newer projects. This is unsurprising. There seems to be a flood of supply in the market.
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