Condo rents flat, rental volume slumps 10% in April: SRX Property

RENTALS of private condominiums and apartments were flat in April, compared with March.

Data released by SRX Property on Wednesday showed that when broken down by sectors, rents in the city area remained the same; those in the city fringe rose 0.1 per cent; while those in the suburbs experienced a decrease in rents of 0.1 per cent.

Year on year, rents in April were down 5.4 per cent from April 2015. They were also down 16.1 per cent from their peak in January 2013.

Rental volume fell 10.3 per cent. About 3.953 units were rented in April, compared with 4,405 units in March.

On the public housing front, HDB rents fell 0.6 per cent in April.

Year on year, rents in April 2016 were down 4.3 per cent from April 2015.

They were down 9.9 per cent from their peak in August 2013.

HDB rental volume fell 2.2 per cent in April to about 2,048 HDB flats from 2,093 units rented in March.