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Rents for condos, HDB flats slip further in Feb: SRX

Softness was widely expected and will likely persist this year, say property consultants

Published Wed, Mar 11, 2015 · 09:50 PM

Singapore

SOFTNESS persisted in the residential leasing market, with rents for both private non-landed homes and public housing flats still heading south in February.

Rents of non-landed private residential units posted a 0.8 per cent drop in February, compared to a month ago, dragged mainly by rents in the city centre and city fringe, based on SRX flash estimates. This represents a 6.2 per cent fall from February last year and 10.5 per cent down from the SRX rental index's peak in January 2013.

The SRX index for HDB rentals also marked a 0.3 per cent drop in February compared to January, dragged mainly by three and four-room flats. Rents dropped in both mature and non-mature estates in February, down 0.6 per cent and 0.1 per cent from a month ag…