Singapore condo rents dip 0.2% in Dec; HDB rents up 0.6%: SRX flash estimates

Singapore

RENTS for Singapore condominiums and private apartments reversed course to notch a small decrease in December, while HDB rents rose after dipping in November, according to a report on Wednesday.

Flash estimates from real estate portal SRX Property show rents for non-landed private residential properties fell by 0.2 per cent month on month. Year on year, rents last month were 0.1 per cent higher than in December 2017. They are still 19.8 per cent off their peak in January 2013.

OrangeTee & Tie research and consultancy head Christine Sun noted that monthly rents for non-landed private properties have been fluctuating within a narrow growth band of between -1 per cent and 1 per cent for the past 12 months, indicating that rents have largely stabilised over the…