Weak residential leasing persists in Singapore
Condo rents down 0.5 per cent, HDB rents up 0.1 per cent in June, says SRX
Singapore
THE residential leasing market stayed weak in June as a huge supply of condo units continued to jostle for a limited pool of tenants - a trend that consultants say will not let up, with a record number of condo projects to be completed these two years.
SRX Property said rents for private condos and apartments fell 0.5 per cent in June from the month before; these were led by a 0.8 per cent drop in rents in the city, and a 0.7 per cent drop for those in suburban areas. Rents in the city-fringe areas were unchanged.
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