S'pore private home rent rates expected to fall

THERE is now a growing consensus among analysts that rental rates for private homes will slide in the coming two years since the official data showed the first quarter-on-quarter decline in four years for private home rents.

Hopes that a growing expatriate population and resilient economic growth will lend support to rents have also dimmed since the latest government budget suggests continued tightening of foreign labour force.

Savills Research said in a note yesterday that the residential leasing market will see a decline in demand from a shrinking pool of overseas nationals as more employment restrictions are implemented.