Condominium rental prices in Singapore have continued to decline for the fourth consecutive month, while the Housing Board rental market shows signs of recovery.
Industry watchers say rentals for private condominiums are expected to remain soft for the rest of the year, before potentially picking up in the first quarter of 2024. SINGAPORE - Condominium rental prices and volumes continued to fall in November to mark the fourth consecutive month of decline, while the Housing Board rental market showed signs of a slight recovery. Based on flash data from real estate portals SRX and 99.co released on Dec 27, condo rental prices dropped 1.
4 per cent in November from October, led by a 2 per cent fall in rents in the core central region (CCR) or prime areas, and rest of central region (RCR) or city fringes.Year on year, overall rents were still 6.3 per cent higher than November 2022 levels, with rents in the CCR growing 5 per cent, and those in the RCR rising 6.4 per cent. OCR rents were up 7.7 per cent. Mr Mark Yip, chief executive of property firm Huttons Asia, noted that condo rents for November represented the steepest decline since May 202
Singapore Condominium Rental Prices Decline Housing Board Recovery
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