Chart of the Day: Rental transaction volume up 4.9% to 21,426 in Q1

There were less vacant flats in Q1, pushing up occupancy rates to a five-year high.

This chart from OrangeTee displayed that the number of leasing transactions rose 4.9% YoY or 5.2% QoQ, to 21,426 in Q1.

As a result, occupancy rates of completed private residential homes (excluding ECs) had also increased for the sixth consecutive quarter to a five5-year high of 93.7%. CCR occupancy rates jumped 92.4%, whilst those in RCR also surged 93.2%.

The report also added that rents of private homes grew 1% in Q1 to reverse the 1% rental decrease in the preceding quarter.

Non-landed home rentals in CCR and OCR had recovered as rents increased 1.6% and 1.7%, respectively, which is said to be the largest increases seen since Q4 2010.