RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Private condo rents dip by 0.4% in August

Rental volume went down 10.4%.

Rentals for private condominiums dipped by 0.4% in August 2017.

According to the Singapore Real Estate Exchange (SRX), private rents in the Core Central Region (CCR) and Outside Central Region (OCR) both fell by 0.7% and 1.1%, respectively.

Meanwhile, rentals in the Rest of Central Region (RCR) rose 0.7%.

On a yearly basis, rents for the month dropped 2.5%. All individual sectors recorded lower prices.

Rents in August dropped 19.2% from the peak in January 2013.

Rental volume also fell by 10.4% from 4,766 units in July to 4,271 units rented this month.

On a yearly basis, rental volume is 5.6% lower than the 4,524 units rented in 2016.

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