Condo rents tick up 0.2% in July

This came with the 11.8% jump in rental volume.

Renting a condo during the past month might have been slightly more expensive if the latest figures from the SRX Property is to be considered.

According to the real estate information exchange, private rents went up by 0.2% in July, with unit rents in CCR and OCR increasing by 0.3% and 0.4%, respectively. Only the units in RCR posted a decline albeit slightly to 0.1%.

In year-on-year terms, rents in the month were down by 2.7%. Units in CCR, RCR, and OCR posted 1.9%, 3.8% and 2.5% YoY decrease in rent prices, respectively.

The increase in rents came with the increase in rental volume. According to SRX, there are 4,834 units rented in the month, an 11.8% increase from the 4,322 units rented in June.

Compared to last year, the rental volume in the month was 4.5% higher than 4,626 units.

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