Singapore, 19 Mar 2023 Last September, a studio apartment at 26 Newton was rented out at $4,000 a month – $200 more than what the landlord had asked for.
A combination of inflation and the rising cost of living could have affected tenants’ abilities to afford high rents, with more opting to share units or moving out to farther and more affordable areas, said OrangeTee & Tie senior vice-president of research and analytics Christine Sun.
OrangeTee’s Ms Sun said once home completions catch up this year, those who have been renting in the last two years will stop doing so and thus free up more housing stock.