Condo rents climb for 20th consecutive month
It rose by 3.2% MoM in August.
Condo rents climbed for the 20th consecutive month in August, rising 3.2% MoM and 27.5% YoY.
According to data from 99.co and SRX, rents climbed across all regions, with the Core Central Region (CCR) posting the highest increase of 3.7% MoM, followed by the Rest of Central Region (RCR) with 3.1% MoMm and the Outside Central Region (OCR) with 3.0% MoM.
On a year-on-year basis, OCR had the highest increase (28.2% YoY), followed by the RCR (27.2% YoY), and the CCR (27% YoY).
Volumes likewise rose in July, increasing 0.4% MoM to 4,524 units. The volume, however, was 6.3% lower than the same period last year and 8.0% lower than the five-year average volume for August.
Of the total volume, 37.1% were from the OCR, 34.8% were from RCR and 28.2% were from CCR