Singapore slips to 8th costliest place in Asia for mid-market home rentals

Singapore

SINGAPORE continued to slide down the list of most expensive places in Asia for mid-market rentals, according to a survey by ECA International published yesterday.

The country is now ranked eighth, down one notch from the previous year. In 2016, Singapore was placed fourth.

Lee Quane, ECA International's regional director for Asia, said: "This is due to a slowing of economic growth and a net reduction in inbound assignments, exacerbating the surplus of higher-end properties on the market that would normally attract expatriates." He added that this oversupply has reduced average rent levels in Singapore for the…