Condo rents fall in March on higher volume, says SRX

Singapore

RENTALS of private condominiums and apartments dipped 0.4 per cent in March compared to February amid a weak leasing environment. Those in the city centre and city fringe saw decreases in rents of 0.5 per cent and 0.9 per cent respectively. Rents in the suburbs rose 0.8 per cent, however.

This was according to flash estimates of the SRX Property Price Index for Non-landed Private Rentals released on Wednesday.

Year-on-year, rents in March 2015 were down 6.3 per cent from March 2014. The movement in rents in February has also been revised from a 0.8 per cent decrease to a 1.3 per cent decrease. But rental volume improved. According to SRX Property, about 3,948 non-landed private homes were rented in March 2015, up 37.1 per cent from 2,880 units in February. Year-on-year, rental v…