Published:
Chart of the Day: Rents for posh homes dropped 1.8% to $5.79 psf
Even rents for mid-market homes dipped.
Knight Frank’s analysis of its property basket showed average rents of high-end and mid-market homes fell by 1.8 per cent and 0.2 per cent q-o-q to $5.79 and $5.12 per sq ft per month, respectively, in 2Q 2013.
Average rents of mass market homes increased marginally by 0.1 per cent q-o-q to $3.34 per sq ft per month.
Here's more from Knight Frank:
Resulting from a slowdown in leasing, lower rents and continuous price appreciation especially for mass market homes, gross rental yields fell across all market segments.
Yields of mass market residential properties dropped from 4.2 per cent in 1Q 2013 to 3.7 per cent in 2Q 2013.
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