by OrangeTee & Tie Pte Ltd.

Condo, HDB rentals rise in January as labour markets recover and border controls ease

SRX Rental Data

As Singapore continues to ease border restrictions, rental markets for HDB flats and private condos continued to increase, according to flash data from 99.co and SRX property. 

Rental volume also rose for condominiums, with the Outside of Central Region making the bulk of the rentals.

Ms Christine Sun, senior vice-president of research and analytics at real estate firm OrangeTee & Tie, said the increased demand comes as rental activities picked up after the year-end holidays, as well as due to recovering labour markets, which expanded in the last three months of last year.

She pointed out that the number of non-resident workers grew for the first time in two years, with the Manpower Ministry reporting a 47,400 increase in total employment.

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