Private homes leasing volumes rose 12.9% in Q3

CCR showed the strongest leasing growth.

Leasing volumes of private residential properties jumped 12.9% QoQ to 26,998 completed leases in Q3 from 23,921 in Q2, according to a Savills report. This figure is also 4.2% YoY higher from 25,900 in Q3 2018.

Leases in the Core Central Region (CCR) led the growth, accounting for 18.4% of rents.The volumes in Outside Central Region (OCR) rose 11.8% QoQ, whilst leases in the Rest of Central Region (RCR) grew 9.2%.

In terms of lease rates, 62.7% of the rental volume in Q3 came from units leased at a monthly rate of $2,000 to less than $4,000. This was followed by units from $4,000 to less than $6,000 per month, making up 16.6% of the total volume. Savills noted that this composition was similar with 9M 2019, with units from $2,000 to less than $4,000 accounting for 63.5% and those from $4,000 to less than $6,000 comprising 16.7% of the total leasing volume.

Meanwhile, leasing activity is projected to moderate in Q4 due to seasonal factors. Despite this, Savills stated that the full-year tally for leasing transactions of private homes may set a record in 2019 and will continue on to 2020 as companies continue to transfer staff to Singapore.

Rental index of private homes inched up 0.1% in Q3, according to data from the Urban Redevelopment Authority (URA). This showed a slower pace of growth compared to the 1.3% rise recorded in Q2.

This figures was mainly dragged down by rents of landed homes, which fell by 2.3% QoQ. Rental index for condominiums and apartments also grew at a slower rate at 0.4% QoQ.

“Although leasing demand remains healthy, increasing rents and shrinking housing budgets may limit further rental growth,” Savills stated.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia