Condo rents slip 0.4% in October

Rents in RCR dipped the lowest at 1.2%.

Latest figures from the SRX property revealed that rents decreased by 0.4% in the past month. Residential rents in CCR and RCR declined 0.8% and 1.2% respectively. Only rents in OCR increased, inching up 0.5%.

On a yearly basis, rents in October 2016 were down by 4.5% from October 2015. In individual sectors, CCR, RCR and OCR posted 3.3%, 5.1% and 4.9% year-on-year decrease in prices respectively.

SRX noted that rents recorded in the said month is 17.9% down from their peak in January 2013.

Meanwhile, there are an estimated 3,686 Non-landed Private Residential units rented in the past month. This is a 1.3% increase from 3,637 units rented in September 2016.

On a yearly basis, rental volume was 8.2% higher than 3,408 units rented in October.