The probable reasons suggested by consultants are
- People bought EC units ahead of their needs.
- Unsold and incompleted ECs contribute to the data.
- People buying EC units for fun? Just so that they can use up the housing grants?
- People buying EC untis to rent out instead of staying and need to wait for the 5 years minimum occupation period restriction.
- Newly completed EC units under further renovation (and unoccupied) contributes to the data
- Weak HDB resale market preventing upgraders from selling their previous HDB flat and hence they are staying in the old flat rather than new EC unit?
My two cents. I think the most probable reason for the unoccupied EC units are as follows.
- Unsold EC units (if the statistics factored in these units)
- People bought the unit for renting out or selling at profitable prices, but don't mind waiting for 5 years.