February condo rents up 1.1%

Rents in CCR and OCR ticked up by 1.2%.

Non-landed private property rents in Singapore saw an uptick in February, inching up by 1.1% compared to the previous month.

According to SRX Property data, rents in CCR and OCR recorded the highest increases at 1.2%, whilst RCR rents went up slightly by 0.8%.

On a yearly basis, rents were down 3.8% from February 2016. In individual sectors, CCR, RCR, and OCR posted 2.9%, 4.4%, and 3.9% year-on-year decreases, respectively.

Meanwhile, an estimated 3,757 condo units were rented in the said month, a 1% decrease from 3,796 units rented in January. However, the February figures were 12.6% higher than 3,336 units rented in the same period last year.