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Chart of the Day: Average prime condo rents up 2% in 2018
Demand came from displaced homeowners and tenants of en bloc sale sites.
This chart from Edmund Tie & Company (ETCo) shows that average prime condo rents grew 2% in 2018. In suburban districts, average rents inched up 0.3% in the past year.
“Key demand came from displaced homeowners and tenants from en bloc sale sites,” ETCo noted.
In 2019, the firm expects that islandwide prices and rents will be flattish with a small upside subject to stable economic fundamentals and employment.
In a previous report, Jefferies noted that condo rents could get a boost of 2% in 2019 as supply of government land sales (GLS) and Housing and Development Board Build-to-Order (HDB BTO) units remains low.
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