Home Buyers in Singapore are continuing to hold off on buying a home until it is seen if the prices will fall further before elections. New home units are being completed in Q1 2015 only Emerald of Katong to sit empty while the waiting continues.

The URA’s latest statistics have 308,814 private dwellings on the market Q4 of 2014. This is a rise of 2.1% over Q3 that only had 302,510.

Bellewoods EC in Woodlands

Out of that, 24,062 were vacant which 11.6% increase was over the previous quarter.

In a released statement from the URA, the total rate of vacancies (excluding Executive Condominiums (ECs)) was 7.8% in Q4, which was jumped from the 7.1 in Q3 for Bellewoods.

The media was quick to report on this, saying it was the highest vacancy rate since the 4th quarter of 2005 when it was at 8.4 during time of depressed rents.…