Condo rents fall 0.2% MoM and 3.6% YoY in September

All markets recorded a year-on-year drop.

Condo rents dipped by 0.2% MoM and 3.6% YoY in September, 99.co and SRX reported.

Amongst submarkets, only the Outside Central Region (OCR) recorded a decrease on a sequential basis, with rents slipping by 1.1%.

The Rest of the Central Region (RCR) and the Core Central Region (CCR) reported a 0.2% MoM and 0.5% MoM rent increase, respectively.

Year-on-year, however, all sub-markets reported a rental decline, led by CCR (4.7%), with OCR (3.3%) and RCR (3.2%) behind.

The rental volume also decreased in September, falling 17.2% MoM to 6,172 units. Year-on-year, volume increased 7.7%.

The latest record was 5% lower than the five-year average volume for September.

Of the total volume, 34.5% was from the OCR, 33.4% from RCR, and 32.1%  from CCR.