Rental for private non-landed homes drop in August

Rental for Private Non-landed Homes Drop in August

Rental rates for condominiums and private apartments have dropped by 0.4% in August coming in from July. This is a 2.5% decrease year-on-year and a significant difference of 19.4% compared to when rental for private non-landed homes peaked in January 2013.

The number of units being rented also fell by 10.4% month-on-month from 4,766 units to 4,271 units leased. This figure also shows a 5.6% drop as compared to August 2016 when 4,524 units were leased.

The decrease in rental rates were over all regions in Singapore with a 3.5% drop in the Core Central Region (CCR), 2.3% decrease in the Rest of Central Region (RCR) and 2.1% decline in the Outside Central Region (OCR).

The rental rates for HDB flats remained unchanged month-to-month but the number of units leased dropped by 6.4%.

 

Meanwhile, resale prices for private non-landed homes saw an increase in August with more units being sold. Read about that: Increase in Resale Prices of Condominiums, With More Units Sold in August

Read more on this at the Straits Times website