Condo rentals slip by 0.4% in October

About 3,448 units were rented this month.

Condo rentals in the rest of Central region rose by 0.4%, but that’s just about the only upside in the condo rental market, as residential units in the Core Central Region (CCR) and Outside Central Region (OCR) both experienced a 0.8% decline in rents.

According to SRX Property, condo rentals are now down by 5.7% compared to the same period last year. Condo rentals are now down by 13.7 compared to their January 2013 peak.

Meanwhile, SRX Property says rental volume has also decreased by 2.7% to 3,448, compared to 3,542 last month.

“Year-on-year, rental volume in October 2015 was 9.4% higher than 3,153 units rented in October 2014,” SRX Property said.