Offshore: Singapore to see 1,200 new serviced apartments over next four years
The serviced residences market will be seeing 1,200 new units from eight developments over the next four years. As at 2Q, the Singapore market already had more than 4,600 units in 50 developments.However, there will be no worries of oversupply, because demand is expected to grow at a faster pace relative to supply as more MNCs rent the apartments as temporary accommodation for their employees.