Singapore's population increased from 5.47M last year to 5.54M this year. Citizen numbers increased by 40,000, PRs remain constant and non-residents increased by 30,000. These numbers are reported in the Straits Times yesterday. I would think the new citizens would need new homes. Assuming they are all couples, they would need 20,000 new housing units. The additional non-residents except the domestic workers would also need to rent rooms and houses. These stats do not suggest a coming scenario of ghost condos. Perhaps higher vacancy rates, but swathes of empty condos, unlikely.