After 2 months of decline, rents for personal residential properties have risen slightly by 0.8 percent; this can be 2.7% greater in a year-on-year contrast with July 2018. HDB apartment rents have stayed flat.
More condos and HDB apartments tenanted last month
The quantity of units rented however has improved for both home types.
Last month saw a 13 percent gain in the amount of personal condo units rented with 5,408 units discovering tenants past month. In comparison to last July nevertheless, rental volume with this section dropped by 0.9 percent.
Non-landed properties at the center central area saw the greatest rise in rents of 1.1 percent; at the suburbs and city fringes, rental prices climbed 1% and 0.3% respectively.
From the prime districts, the amount of luxury homes might have diminished as some elderly advancements made way for newer jobs subsequent en bloc sales. Therefore, the squeeze availability might have tipped the scale slightly towards the face of the landlords.
Rental need healthy with rents rising in certain sections
From the HDB market, rents have remained flat, however, compared to July 2018, it’s currently 1 percent greater.
In non-mature estates, HDB apartment rents climbed 0.4percent while those in older estates dropped 0.4 percent.
The HDB rental marketplace, however, appears to be picking up because the amount of apartments tenanted last month climbed to 6.1% higher than the 5-year typical for the month of July.