Condo rents up 1.9% in June

Rents in the CCR led the increase at 2.7%.

Condo rents edged up at a slower pace of 1.9% YoY, but slid down 0.2% MoM in June, with the Core Central Region (CCR) recording the highest increase at 2.7%, data from SRX Property revealed.

Rents in the Rest of Central Region (RCR) and Outside Core Region (OCR) both rose 2.1% and 1%, respectively.

As rents edged up, rental volumes dipped 6.4% YoY in June, with an estimated 4,704 units rented. On a MoM basis, renal volumes slid 4.2% from the 4,908 rentals seen in May.

Meanwhile, HDB rents grew 1.4% YoY, although rents were down 14.6% from its peak in August 2013. Rentals for mature and non-mature estates rose 2% and 0.6% YoY, respectively.

HDB rental volumes edged up 1.2% YoY in June with an estimated 1,878 HDB flats rented. MoM, rentals were down 3.1% compared to the 1,938 seen in May.