Why rents rose faster in suburban condos rents in July

OCR rents rose 1.6% QoQ in July, whilst CCR only saw a 0.7% QoQ uptick.

Tenants looking for cheaper housing accommodation continued to flock to Singapore’s suburban areas, resulting in higher rent increases in the Outside Central Region (OCR), OrangeTee said.

Data from 99.co and SRX showed that rents rose 1.6% QoQ and 23.2% YoY in the OCR. Meanwhile, the Rest of the Central Region (RCR) and Core Central Region (CCR) posted a 1.1% QoQ and 0.7% QoQ increase in rents in July, respectively.

Apart from tenants opting for cheaper options, Huttons said the influx of students enrolling in international schools pushed up the demand for condos in OCR.

“For example, there was more demand for larger units in Skies Miltionia and The Miltonia Residences as these are near XCL World Academy. Many of the international schools are in the OCR,” Huttons said.

“The robust demand has pushed rents in the OCR higher in July compared to other regions,” Huttons added.

Meanwhile, OrangeTee said the stronger demand for HDB flats also shows that many homebuyers are moving to lower-priced accommodations.

“Rental demand for HDB flats remained strong, with July's volume being higher on a year-on-year basis and above the five-year average volume for July,” OrangeTee said.

Follow the link s for more news on

Huttons Asia

OrangeTee

singapore condo resale prices

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia