Singapore's residential vacancy rate reach 9-year high

Fewer expatriates are coming to live here.

Singapore's property market is cooling after five years of price gains, and the number of empty apartments is on the rise.

According to a report by Bloomberg, Singapore landlords are facing the highest level of residential vacancies in nine years.

The Urban Redevelopment Authority released statistics today, indicating that the vacancy rate for residential property rose to 7.8 percent in the quarter ended Dec. 31, up from 7.1 percent in the third quarter and the highest level since the last three months of 2005.

View the full report here.

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