Singapore, 09 Jun 2021 SINGAPORE - The rental market for both private apartments and Housing Board (HDB) flats in May remained robust despite the tightened Covid-19 measures and border restrictions in place.
Rents for condominium units rose by 0.3 per cent compared with the month before and are up 7.3 per cent from a year earlier. They are still down 11.4 per cent from their peak in January 2013, according to flash data from real estate portal SRX released on Wednesday (June 9).
Ms Christine Sun, senior vice-president of research and analytics at real estate firm OrangeTee & Tie, said based on ground observations, the market appears to be propped up by tenants who are renewing their leases and an increasing number of Singaporeans who are renting.