There were less vacant flats in Q1, pushing up occupancy rates to a five-year high.
This chart from OrangeTee displayed that the number of leasing transactions rose 4.9% YoY or 5.2% QoQ, to 21,426 in Q1.
As a result, occupancy rates of completed private residential homes (excluding ECs) had also increased for the sixth consecutive quarter to a five5-year high of 93.7%. CCR occupancy rates jumped 92.4%, whilst those in RCR also surged 93.2%.
The report also added that rents of private homes grew 1% in Q1 to reverse the 1% rental decrease in the preceding quarter.
Non-landed home rentals in CCR and OCR had recovered as rents increased 1.6% and 1.7%, respectively, which is said to be the largest increases seen since Q4 2010.
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