Condo, HDB rents in July see first uptick since February
But a shift in demand to units in suburbs shows Covid-19 impact
Add BT as a preferred sourceSingapore
IT was a mixed picture for Singapore's rental housing market - while rents for HDB flats and private apartments saw their first monthly increase in four months in July, leasings fell as the Covid-19 pandemic continued to impact travel and jobs.
The SRX data showed HDB rents rose 1.4 per cent in July from the previous month, a bigger rate of increase than the small 0.4 per cent rise for private condominiums and apartments, One possible reason for the "healthy" increase in HDB rents is demand from Malaysian workers or their employers to rent HDB flats here given the Covid-19 border restrictions, said ERA Realty's head of research and consultancy Nicholas Mak.
TRENDING NOW
Singapore at 61: How we can ensure opportunity, security and ownership for the next generation
With tech for fact-checking to cancer care, Singapore startups aim beyond home
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Why Asean matters more than ever to the UK and Singapore
