SG, 15 Oct 2020 HDB and condo rental volumes rebounded strongly in September after 2 consecutive months of decline as employers move workers out of dormitories and as more tenants seek cheaper accommodation.
"There has been a notable increase in rental demand for HDB resale flats from non-construction companies," states Christine Sun, head of research & consultancy, OrangeTee&Tie. “Some employers have been actively relocating their workers from dormitories to prevent their workers from being infected with the coronavirus and avoid the hassle of observing stringent regulations imposed in some dormitories,” she added.
"There is also a growing number of tenants opting for shorter leases, with many intending to moving elsewhere if they manage to find cheaper accommodation. As leases are now shorter, there will be more transactions recorded over time," according to Sun.