Condo rents slip 0.8% in November

As rental volume sees 0.5% decline.

Condo rents in the city-state has decreased 0.8% in November compared to the previous month.

According to SRX Property, residential units rents in CCR, RCR and OCR decreased by 0.7%, 0.9% and 0.9% respectively. On a yearly basis, rents in the said month were down by 4.5%, with CCR, RCR and OCR posting 3.4%, 4.4% and 5.3% rent slump. This came as rental volume decreases by 0.5%.

"An estimated 3,811 Non-landed Private Residential units were rented in November 2016. This represented a 0.5% decrease from 3.830 units rented in October 2016," the real estate firm said.

Year-on-year, rental volume was 20.8% higher than last year's 3,156.

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