Private flat rents drop by 5.6% in September

A total of 3,758 units were rented last month.

Sliding for the eighth consecutive month, condo rentals declined by 0.3% compared to last month and is now down 13% from its January 2013 peak.

According to SRX Property, non-landed private residential units in RCR and OCR both experienced decreases in rents, dropping by 0.6% and 1.3% respectively.

CCR remained the lone bright spot with a 1% increase.

Meanwhile, condo rentals are down 4.1% from 3,919 units rented last year.

“Year-on-year, rental volume in September 2015 is 17.7% higher than 3,194 units rented in September 2014,” SRX Property said.