Chart of the Day: Rents for posh condos dipped 0.2% to $4.86 per sq ft

Could it be due to stiffer competition?

According to Savills, the average monthly rent of high-end condominiums they tracked continued to soften for the eighth consecutive quarter, dipping by 0.2% QoQ to S$4.86 per sq ft per month.

"The subdued leasing performance in luxury homes could be due to more intense competition resulting from oversupply in the high-end market, combined with big-budget tenants placing more constraints on accommodation expenses," Savills said.

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