Chart of the Day: Condo rent volumes dipped 3.5% in Jan-Feb

Transaction volumes might further drop following social-distancing measures.

This chart from Knight Frank revealed that the number of rental contracts for condos declined by 3.5% YoY in January to February 2020. March volumes are however expected to taper off further due to the reduced demand from travel restrictions globally.

“With the restrictions on show-flats with the social-distancing measures and reduced viewings, we anticipate the transaction volume to decrease,” the report stated.

Meanwhile, market rents stayed flat as the impact of the pandemic is likely to have been felt more in March, when travel restrictions extended to more countries and social distancing measures were implemented.