Published:
Private condo rents slip 0.3% in July while volume jumps
Over 4,000 units were rented last month.
Prices in the non-landed private residential rental market continued to soften in July, with rents slipping 0.3% despite a 7.3% jump in rental volume.
According to SRX Property, an estimated 4,147 private condos were rented last month compared to 3,866 units rented in June. This is also 18.2% higher than 3,508 units rented in July 2014.
Residential units in CCR, RCR and OCR experienced decreases in rents of 0.4%, 0.2% and 0.3% respectively.
Year-on-year, rents in July 2015 are down 5.7% from July 2014. Rents last month are 12.5% lower compared with its peak in January 2013.
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