by OrangeTee & Tie Pte Ltd.

Private home rents firm amid tight supply, rising expat demand

URA Quarterly Data

Q4 2019

Singapore, 28 Feb 2020

Rents of private homes are stable despite lower listings due to rising expat demands. According to URA data, rental index rose 1.4 per cent year-on-year in Q4 2019, where the main bulk was from non-landed home segment. Rental volume excluding EC also rose to a 12-year high of 93,920 units in 2019.

Christine Sun, head of research and consultancy at OrangeTee & Tie said that "The stronger rental prices came on the back of fewer private homes being completed last year and some stock being removed to make way for new housing units."

Furthermore, many homes were demolished to make way for newer developments after the last collective sales cycle.

"As a result, the lower inventory has probably helped to prop up rental prices last year," said Ms Sun. She expects rental growth of 1-3 per cent in 2020.

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