Private condo rents down 0.4% in September

Volumes slid 14.8% to 4,199 rented units.

Private condominium rents slipped 0.4% MoM compared to rates in August, SRX Property revealed. Rents outside the central region (OCR) led the declines at 0.7%.

Meanwhile, rents in the core central region (CCR) dipped 0.5% MoM whilst rates in the rest of the central region (RCR) remained unchanged.

SRX Property noted that private condo rents dipped 0.1% YoY and crashed 19.4% compared to its peach in January 2013. On a QoQ basis, the rates have decreased 0.1% compared to Q2.

Rental volumes also slid 14.8% MoM to 4,199 condo units from 4,929 rented units back in August. On a YoY basis, it grew 1.8% higher compared to the 4,1626 units rented in September 2017.