Non-landed private home rents skid 5.7% in August

Rents are down 12.9% since their peak.

Non-landed private home rents are continued their downward slide in August, as rents decreased by 0.4% since last month.

According to a report by SRX Property, rents of private condos in the CCR and OCR dwindled by 0.3% and 1.3% respectively. Bucking the trend are rents in RCR, which experienced a 0.8% increase.

Meanwhile, rental volume also deflated in August by 1.6% to 4,097 units.

“Year-on-year, rental volume in August 2015 is 13.8% higher than 3,601 units rented in August 2014,” SRX said.

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