THE rental market for private non-landed property in Singapore picked up in November while it slowed for HDB properties, going by flash data from real estate portal SRX on Wednesday.
Rents for condominiums and private apartments in November increased by 0.6 per cent from the previous month. The monthly decline in rents for October was raised to 0.9 per cent from 0.7 per cent estimated earlier. They were unchanged in August, from an earlier SRX estimate of a 0.1 per cent dip.
Year on year, private rents are up by 0.3 per cent from November 2017. However, compared to their record high in January 2013, they are down by 19.6 per cent.
Going by location, private rents in the prime or core central region (CCR) increased by 1.8 per cent month on month in November, while rents in the city fringes or rest of central region (RCR) grew by 0.6 per cent. However, rents in the suburbs or outside central region (OCR) declined by 0.3 per cent.
Year on year, RCR and OCR rents have risen 1.2 per cent and 0.8 per cent respectively, but CCR rents have dropped by 1.5 per cent.
Source: Business Times
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