RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Condo rental volume jumps by 2% in June

An estimated 4,256 units were rented.

An uptick is in the books for Singapore condo rentals last month, as more citizens rented units in June compared to only 4,172 units rented last May.

According to estimates from SRX Property, rental volume is also up by 7.9% year-on-year, with only 3,946 units rented last month.

Meanwhile, private rental prices remained the same in June compared to the previous month.

“Non-Landed Private Residential units rents in CCR and OCR decreased by 0.4% and 0.3% respectively while RCR increased by 0.8%,” SRX Property said.

Additionally, rents in June 2016 were down by 4.8% from June 2015. In individual sectors, CCR, RCR and OCR posted 1.4%, 7.6% and 6.0% year-on-year decrease in price, respectively.

“Rent in June 2016 was 16.4% down compared to its peak in January 2013,” SRX Property noted.

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