Singapore, 15 Sep 2021 Rental demand for both HDB flats and private condos increased last month as renters returned to the market with the loosening of Covid-19 restrictions. The rental volume for both markets saw an increase after declining for two months previously.
Ms Christine Sun, senior vice-president of research and analytics at real estate firm OrangeTee & Tie, said the rise in demand followed the easing of viewing restrictions from a cap of two distinct visitors per household per day to five after Aug 10.
Domestic demand seems to be propping up the leasing market, said Ms Sun.
"We have observed more locals renting especially HDB upgraders who have recently sold their homes.
"Others leased temporarily as the construction of their new homes have been delayed. Hence, rents of more affordable housing units like the private homes in the outside of central region and HDB flats continued to rise last month."