Chart of the Day: Rental volume in private homes down 10% to 19,506 units in Q2
A bulk of it are renewals since new foreign expats were not able to enter Singapore.
This chart from OrangeTee & Tie showed that rental volume amongst private homes dipped 10% QoQ from 21,685 units in Q1 to 19,506 units in Q2.
The bulk of the rental transactions seems to be renewals since new foreign expats were not able to enter Singapore during the Circuit Breaker period, the report noted. Many tenants chose to renew their contracts to avoid the hassle of scouting for new housing, whilst some faced difficulty arranging house movers during that period should they decide to rent another place.
The overall rental index dipped 1.2% QoQ and 1.1% YoY. In addition, occupancy rates held steady at 94.6% in Q2.