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Condo rents in Singapore down for 10th consecutive month: SRX

Wednesday, December 10, 2014 - 12:26
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Rental prices for condominiums continued to slide for the 10th consecutive month in November, according to latest flash estimates by SRX.

RENTAL prices for condominiums continued to slide for the 10th consecutive month in November, according to latest flash estimates by SRX.

Compared to October, the price index for non-landed private residential property fell 0.8 per cent. Year-on-year, rents in November were lower by 5.3 per cent.

Private apartments in the suburbs posted the greatest decline in November, with rent falling by 1.2 per cent compared to October. Those in the city and city fringes saw rental prices fall by 0.3 per cent and 0.7 per cent respectively.

The number of units rented also fell by 11 per cent from October. Some 2,892 apartments were rented in November, down from 3,251 a month earlier.

This, however, is 9.8 per cent higher than the 2,633 units rented a year ago.

Rental for HDB apartments fell as well, dipping 0.1 per cent in November, with three-room and five-room flats seeing declines of 0.2 per cent and one per cent respectively. There was no change for four-room flats, while rental for executive flats rose by 3.5 per cent.