RCR homes take the centre stage as housing allowances shrink

This region has been resilient to island-wide rent declines.

Homes in the rest of central region (RCR) are in the limelight as expats’ housing allowances continue shrink.

A report by Savills showed that RCR homes has been resilient to island-wide rent declines in the fourth quarter, while condo rents in the core central region (CCR) fell by the widest margin.

Condo rents in the RCR fell by a marginal 0.2% last quarter, while rents in the CCR slipped 3.7% and rents in the OCR weakened by 2.5%.

“RCR has been the most resilient to the current island-wide decline in rents, mainly due to its proximity to the city and its relatively affordable housing. With shrinking housing budgets, RCR is increasingly posing more of a competition to CCR, which has traditionally been the preferred
location for expatriates,” stated the report.