Condo rental prices down 1% in February
All three regions posted a decline.
According to SRX Private Residential Flash Report, based on the private non-landed residential rental SPI sub-index, overall rental prices in February saw a further drop of 1.0% despite a temporary rebound in January.
All three regions saw negative rental price changes in February. RCR's rents were 1.9% down. Rents in the CCR and OCR regions dropped by 0.6% and 1.3% respectively.
2,442 rental contracts were signed in February, down 6.6% from January. However, on a y-o-y basis, February's rental volume posted a 19.1% increase from the 2,051 units leased out in the same month of last year.