Housing rents continue the decline in Oct

The residential rental market remained lull in October 2015. Both rents and transaction volumes continue the decline. According to the flash estimates from SRX Property, rents of non-landed private residential units has declined 0.4% in October from September. HDB slipped 0.5%.

Various factors are attributed to this decline.

  • Seasonal (second half of the year is a weaker period for leasing periods)
  • Increase in supply of homes for lease (The number of private residential units receiving TOP are 10,329/13,150/19,941/13,589 for the periods 2012/2013/2014/2015 (till Q3 2015))
  • Change in requirements for senior expatriates.

 

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