SINGAPORE – Rents for private apartments resumed their downward trend in April even as more units were leased, while prices in the Housing Board rental market continued to climb.
“With the majority of the recently completed units located in the outside central region, we are seeing more aggressive competition for tenants,” he said. “The declining rental prices will make Singapore more attractive for multinational companies, which in turn will bring in more expats to work in Singapore,” she added.
ERA’s Mr Lim said one- and two-bedroom condos formed a higher proportion of rental transactions in April, as tenants opted for smaller units to manage rental expenses amid an uncertain economic situation. “Demand has remained resilient as some tenants will still opt for HDB flats, which continue to offer the most affordable housing option in the market,” she added.Rents for flats in mature estates were up 0.7 per cent, while those in non-mature estates slid 0.3 per cent.
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