Chart of the Day: High-end homes buck increasing occupancy trend

Their occupancy rates slide to 88.4%, almost approaching the three-year low.

This chart from OrangeTee & Tie Research and Consultancy shows that Singapore's overall occupancy rates rose 0.4 ppt from 92.2% in the fourth quarter of 2017 to 92.6% in the first quarter of 2018.

The high occupancy rate was bolstered by growth in the mass market, which grew to a four-year high of 95.1%. Occupancy in mid-tier homes also grew to 91.7%.

However, occupancy rates slid marginally in the high-end segment by 0.4 ppt to 88.4%. According to the chart, this rate hit a three-year low.

OrangeTee & Tie research and consultancy head Christine Sun noted that the high occupancy rates are one of the indicators that the sentiment in the private residential market continued to be buoyant in the first quarter of this year. 

Sun added that as developers' existing stock continues to diminish and supply of completed homes remain low, many projects especially those in the Core Central Region (CCR) have raised prices of their unsold units, some by even double-digits this year.

"Individual re-sellers have also seized the opportunity of increasing their asking prices in light of the more positive market sentiment fueled by the recent collective sales frenzy," she said.