Singapore, 13 Feb 2020 The rental market in Singapore is likely to see a slowdown temporarily due to the coronavirus outbreak. Although leasing volume went down in January, rents for private apartments and condominiums went up 0.9 per cent from December to January.
Christine Sun, head of research and consultancy at OrangeTee & Tie says that the lower volume could be attributed to higher rents and the Chinese New Year period where the number of viewings typically falls as both landlords and tenants are on holiday.
Ms Sun also mentions that "This may have some impact on hiring, which may affect the leasing market temporarily. However, we may expect leasing demand to rebound when the situation stabilises or improves."