The private housing rental market may have achieved a record last month when the combined value of the 4,717 leasing contracts signed hit S$24.5 million, but early signs of "ghost towns" are emerging with the number of vacant apartments surging in the past 18 months.
The previous dollar value record of S$24.4 million was achieved exactly a year ago - in July 2011. However, in terms of the number of leasing contracts transacted, last year's number was higher with 4,752 leasing deals closed for that month...............................................Full Article: Source
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