Condo rents climb 1.9% in January, HDB rents edge up 0.3%: SRX

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According to SRX flash reports in February: the rental market in private homes increase by 1.9% with HDB rents going strong at an increase of 0.3% in January. The number of flats leased out in January has also seen an increase since December by about 10%.

Based on the number of enbloc that happened in 2018, many displaced home owners will be looking to rent for a year long lease while their cash proceeds are being processed by the developer. This would see the rents in 2019 to increase by about 1%.

With many new launches happening this year, home owners are choosing to rent while waiting for their project to complete building. This gives them the flexibility of experiencing living in different locations all around Singapore while getting a brand new condominium in 3-4 years time.

 

Source: https://www.straitstimes.com/business/property/condo-rents-climb-19-in-january-hdb-rents-edge-up-03-srx

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