SINGAPORE - The quiet rental market for private condominiums/apartments and Housing Board flats saw a sudden surge in demand last month with market observers saying measures taken in response to the coronavirus pandemic were the likely cause.. Read more at straitstimes.com.
SINGAPORE - The quiet rental market for private condominiums/apartments and Housing Board flats saw a sudden surge in demand last month with market observers saying measures taken in response to the coronavirus pandemic were the likely cause.
Over in the HDB rental market, leasings rose last month by 15.4 per cent to 2,157 flats versus 1,869 in February. Year-on-year, HDB rental volumes were down by 11.3 per cent from March 2019. They were also 4.7 per cent lower than the five-year average volume for the month. Some Malaysian workers may have also scrambled to rent a unit before the lockdown was imposed in their country, while others could have also rushed to commit to a unit before the circuit breaker measures kicked in here Singapore, Ms Sun added.
Year-on-year, private rents are up 3.2 per cent from March 2019, and still down 15 per cent from their peak in January 2013.
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