Singapore private apartment rents fall by 0.2% m-o-m in March: SRX flash estimates
SINGAPORE private apartment rents declined in March 2018, after three straight months of gains, even amid a pick-up in the number of units leased out.
Rents for non-landed private homes fell by 0.2 per cent against the previous month, according to flash estimates from SRX Property.
The index was dragged down by homes in the core central region, where rents lost 0.4 per cent, and outside the central region, where they slipped by 0.5 per cent.
But some landlords can still rest assured, with rents in the non-core central region posting a rise of 0.3 per cent.
Rents have still risen on the previous year, by 0.2 per cent overall.
Homes were hotter in Singapore's central region - with rents up by 1.5 per cent in the core areas in March, and 1.6 per cent in the non-core areas.
Those outside the central region saw rents slide by 2 per cent on the year before.
Meanwhile, the first three months of 2018 saw a quarter-on-quarter rise in rents of 1 per cent, but landlords are still reaping 18.9 per cent less in rent than at the market's peak in January 2013.
The dip in rents came even as the rental volume stood at about 4,580 units in March - a 28.3 per cent improvement on February, but 4.4 per cent lower than the volume a year ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
US 30-year mortgage rate falls for first time since March
Government probes ‘misleading’ and ‘unrealistic’ resale listings for S$2 million HDB flats
German commercial property prices drop 9.6% in Q1
Swedish home prices swell with buyers expecting rate cuts
Blackstone, Starwood split on commercial property market risks
No bids for Pine Grove’s mega en bloc sale at S$1.95 billion price