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Condo rents to drop by up to 10%: ANZ

Supply glut looms as S'pore population growth can't absorb new supply, it adds

Published Fri, Dec 5, 2014 · 09:50 PM

Singapore

VACANCIES in the private residential market are set to inch up over the next few years as a supply glut looms, and this would exert further downward pressure on rents and, hence, investment returns.

ANZ Bank flagged in a report on Friday that Singapore's population growth is not enough to absorb the new housing supply between 2014 and 2017, with record completions of new homes posing a "supply shock".

Daniel Wilson, economist for Asean and Pacific at ANZ Bank, said that he expects non-landed property rents to fall cumulatively by up to 10 per …