Singapore's condo rents slide 0.6% in May

Rental volume also dropped.

According to the SRX Property Price Index for Non-landed Private Residential Rentals, rents decreased by 0.6% in May 2015 compared to April 2015. Non-landed Private Residential units in RCR and OCR saw decreases in rents of 0.6% and 1.5% respectively, while CCR experienced a 0.2% increase in rents.

Year-on-year, rents in May 2015 are down 6.0% from May 2014. Rents in May are 11.7% down compared with its peak in January 2013. Rents change in April has been revised from no change to a 0.1% increase.

Rental volume dropped slightly. According to the SRX Property, an estimated 3,337 Non-landed Private Residential units were rented in May 2015. This represented a 3.0% decrease from 3,439 units rented in April 2015.

Year-on-year, rental volume in May 2015 is 6.2% higher than 3,142 units rented in May 2014.