Condo rents fall 0.4% MoM and 4.6% YoY in April

All sub-markets posted decreases except the Core Central Region.

Condo rents dipped by 0.4% MoM and 4.6% YoY in April, data from 99.co and SRX showed.

Rents also fell across sub-markets, except the Core Central Region (CCR), which saw an increase of 0.1% MoM.

In the Rest of Central Region (RCR) and the Outside Central Region (OCR), rents fell by 0.2% MoM and 0.5% MoM, respectively.

On a year-on-year comparison, rents across all submarkets decreased, falling by 5.2% in the CCR, 4.3% in the RCR, and 4.1% in the OCR. 

Whilst rents decreased, rental volumes increased in April by 3.1% MoM and 4.4% YoY to 5,874 units. 

The latest record, however, was 6.0% lower than the five-year average volume for April.

Of the total volume, 35.4% was from the OCR, 32.1% from RCR, and 32.4%  from CCR.