Vacancy Rate
What is the vacancy rate?
The vacancy rate is the percentage of completed homes (or office or shop space) that is physically unoccupied. URA publishes it every quarter for private homes. At the end of the 3rd quarter of 2026, 7.2% of completed private homes (excluding ECs) were vacant, up from 6.4% a quarter earlier, as a large batch of new homes was completed.
Key facts
- Definition (URA)
- The percentage of the existing stock that is vacant
- Stock
- Completed units available for occupation, whether occupied or not
- Private homes, end-3Q 2026
- 7.2% vacant (excluding ECs)
- Previous quarter
- 6.4%
- Change in stock, 3Q 2026
- Up 3,491 units; occupied stock down 305 units
- Published by
- URA, quarterly
As of 6 Nov 2026. Source: URA.
How the vacancy rate works
URA counts all completed private homes as the stock, then works out how many of them nobody is physically living in.
Vacancy rate = vacant units ÷ stock × 100
| Term (URA definition) | Meaning |
|---|---|
| Stock (available units) | Completed units available for occupation, occupied or not |
| Occupied units | Units physically occupied by owners or tenants |
| Vacant units | Units not physically occupied |
Latest figures, 3rd quarter 2026
| Measure | Figure |
|---|---|
| Vacancy rate, private homes (excluding ECs) | 7.2% (6.4% in 2Q 2026) |
| Increase in completed stock | 3,491 units |
| Change in occupied stock | −305 units |
| Homes completed in the quarter (including ECs) | 3,559 (1,212 in 2Q 2026) |
Example
If a market has 400,000 completed private homes and 28,800 are unoccupied, the vacancy rate is 28,800 ÷ 400,000 = 7.2%. If 4,000 more homes are completed and none are occupied yet, vacancy rises to 32,800 ÷ 404,000, or about 8.1%.
Common mistakes
- Reading vacancy as weak demand alone. A wave of completions can push it up temporarily.
- Comparing with HDB. URA’s figure covers private homes, not HDB flats.
- Ignoring the pipeline. Check pipeline supply to see how many more homes are coming.
Frequently asked questions
Why does the vacancy rate rise when new homes are completed?
Newly completed homes join the stock straight away, but owners and tenants take time to move in. In the 3rd quarter of 2026, 3,559 private homes (including ECs) were completed, up from 1,212 the quarter before and the most since the 3rd quarter of 2024.
Does a vacant unit mean an empty investment?
Not necessarily. URA counts a unit as vacant if no one is physically living in it, which includes new homes awaiting renovation or tenants.
Why does vacancy matter to landlords?
More vacant homes mean more competition for tenants, which can slow rent growth. Vacancy also affects rental yield, since empty months bring no rent but still incur costs.
Related terms
Sources
Every figure on this page was checked against the official government sources above on 6 Nov 2026. See our editorial policy.
This is general information, not financial, legal or tax advice.