by OrangeTee & Tie Pte Ltd.

Condo, HDB rents up for 1st time since Feb, but volumes fall

SRX Rental Data

July 2020

Singapore, 13 Aug 2020

The rental prices for HDB flats and non-landed private homes recorded their first monthly increases after four months of decline, but leasings fell as the pandemic continued to impact travel and jobs, according to flash data released by real estate portal SRX Property on Wednesday (August 12).

Christine Sun, head of research and consultancy at OrangeTee & Tie, noted that more expatriates could be opting for cheaper private housing given job and pay uncertainties, causing a rise in rental rates for private units in the suburbs and city fringes.

She also commented that the overall rise for both private and HDB homes last month could also be due to some landlords raising asking rents after observing a sudden surge in demand during the circuit breaker period.

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