SG, 14 Oct 2020 Reopening of Singapore's border with Malaysia last month boosted the property rental market, after rental volumes in August hit their lowest point in a year. September rents and leasings for HDB and condominiums rose, according to SRX.
Ms Christine Sun, head of research and consultancy at OrangeTee & Tie said "There is a growing number of tenants opting for shorter leases, as many have the intention of moving elsewhere if they manage to find cheaper accommodation. As leases are now shorter, there will be more transactions recorded over time"
Ms Sun added: "We have also observed an increase in rental demand for HDB resale flats from non-construction companies. 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. In light of the weak employment climate and travel restrictions that are still in place, the leasing market may remain soft with some rental price weakness in the coming months."