Non-landed private residential rental prices down 6.6% in August:SRX

Rental volume jumped 25%.

Rental prices of private condominiums continued to fall in August, posting a 6.6% year-on-year decline and a 0.6% month-on-month slide.

According to the Singapore Real Estate Exchange, this marks the 7th consecutive decline in prices. Non-landed Private Residential units in CCR and OCR saw rent decreases of 2.0% and 1.1% respectively, while units in RCR posted an increase in rent of 0.4%.

Rental volume jumped 25% year-on-year as an estimated 3,539 private condominium units were rented last month, compared with 2,831 units rented in August 2013. This also represents a 3.6% month-on-month increase compared to July 2014.

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