Chart of the Day: Rents for posh condos go tumbling downhill by 0.2% to $4.84psf

Will it crumble under pressure?

The double whammy of expats' smaller housing stipends and the rocketing number of new posh projects is putting further measure on Singapore's high-end property market.

Savills reported that according to the URA, following the drop of 0.5% in the previous quarter, the overall rental index of private residential properties continued to ease 0.7% in the quarter.

Here's more from Savills:

Only rents of non-landed residential properties in the RCR inched up 0.3% QoQ, while those in the CCR and OCR declined 0.6% and 0.8% respectively. More pressure on residential rents is expected in 2014, especially in the high-end market, as expatriates’ housing allowances continue to be trimmed and there is an increasing number of newly completed high-end projects entering the market for lease.

The average monthly rent of high-end condominiums tracked by Savills continued its downward trend since mid-2011, with average monthly rents dipping 0.2% to S$4.84 per sq ft in the reviewed quarter.

Also Read

One Sophia sells 30% of units at weekend launch

Turf City sites could deliver up to 800 public housing units: Huttons

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit