Supply glut, tightening expat demand depressing rents

Rental Heatmap: How private housing rents have moved

Singapore

THE private residential leasing market has grown steadily weaker from the previous year in most districts of Singapore, with unpopular suburban locations the hardest hit.

And no reprieve is in sight as latest Q3 figures show non-landed private home rentals sliding another 1.1 per cent from Q2, led by the core central region.

From Q2 last year - when loan restrictions had not come into force - to Q2 this year, rents fell across all but seven of the 28 districts, with District 20 (Bishan, Ang Mo Kio) bucking the trend in a big way.

Condos and apartments in District 27 (Yishun and Sembawang) suffered the steepest rent decline of 10.6 per cent. Rents stayed flat in prime District 11 (Watten Estate, Novena, Thomson), as well as District 7 (Middle Road, Golden Mile) and District 12 (Balestier, Toa Payoh, Serangoon). Three others saw single-digit incr…