3 biggest headwinds that rental market must hurdle

Will it be able to withstand these?

According to Nomura, iIn addition to the projected surge in completions, there are three other headwinds for the rental market:

First is the higher property taxes following the changes announced in Budget 2013, including the removal of property tax refund for vacant properties.

Continued tightening of the foreign labour market, including raising the minimum salary at which foreign PMEs (professionals, managers and executives) can secure employment passes.

Higher mortgage rates (including the potential change in monetary policy during the October review, which could translate into weaker SGD and higher benchmark interest rates).

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