Condo rents see modest rise in March, up 0.3% MoM

Rents, however, fell 3.4% YoY.

Condo rents increased by 0.3% MoM, but dipped 3.4% YoY in March, data from 99.co and SRX showed.

Rents rose in the Core Central Region (CCR) and Rest of Central Region (RCR) by 0.3% MoM and 0.9% MoM, respectively.

On the other hand, rents in the Outside Central Region (OCR) dipped 0.3% MoM.

On a year-on-year comparison, rents across all submarkets decreased, falling by 5.5% in the CCR, 2.6 % in the RCR, and 2.1% in the OCR. 

Rental volumes also increased in March by 19.1% MoM and 14.9% YoY to 5,677 units. 

The latest record, however, was 6.9% lower than the five-year average volume for March.

Of the total volume, 36.4% was from the OCR, 32.6% from RCR, and 31.0%  from CCR.