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Singapore condo rents rise

Singapore condo rents rise

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RENTALS for non-landed private homes in Singapore rose in January 2017 over December 2016 amid an increase in leasing volume, while rents and leasing volume of Housing & Development Board (HDB) flats headed south over the same period.

According to the latest flash estimates released by SRX Property on Wednesday morning, its rental index for private apartments and condos climbed 1.3 per cent month-on-month (m-o-m) in January after retreating 1.4 per cent m-o-m in December. Upcoming executive condo launches include Hundred Palms Residences, Yio Chu Kang EC, Inz Residence EC, Choa Chu Kang EC, Anchorvale Lane EC,  while existing ones include The Terrace EC, Brownstone EC, The Vales EC, Parc Life , Sol Acres EC, The Visionaire, Bellewoods EC, Signature at Yishun, The Criterion EC and Northwave EC. Hundred Palms Residences EC details will be available shortly. Hundred Palms EC showflat will also be ready soon.

The index has contracted 5 per cent year-on-year (y-o-y) from January 2016 and is also 18.9 per cent below its peak in January 2013.

An estimated 3,813 non-landed private homes were rented in January 2017, reflecting a 5.8 per cent m-o-m increase from the 3,605 units rented in December 2016.

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