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Condo, HDB rental volumes tumble in Aug: SRX

Dampened demand may be due to weakness in the wider employment market, say property analysts

Published Wed, Sep 9, 2020 · 09:50 PM

Singapore

RENTS for HDB flats and private apartments held steady in August but leasings took a big hit, with rental volumes falling to levels lower than during the circuit breaker period, going by flash data from real estate portal SRX Property on Wednesday.

August leasings for private condominiums and apartments tumbled 20.4 per cent month on month to 2,716 units. This is 47 per cent lower than a year ago and 42 per cent less than the five-year average volume for the month of August.

The volume for HDB flats in August also fell, by 16.7 per cent from July to 1,025 flats. This is 46.2 per cent lower than a year ago and 44.1 per cent below the five-year average volum…