Condo rents climb for 19th consecutive month

It rose by 1.7% MoM in July.

Condo rents climbed for the 19th consecutive month in July, rising 1.7% MoM and 23.5% YoY.

According to data from 99.co and SRX, rents also climbed across all regions, with the Outside Central Region (OCR) posting the highest increase of 2.2% MoM, followed by the Rest of Central Region (RCR) with 1.7% MoM, and the Core Central Region (CCR) with 1.2% MoM.

On a year-on-year basis, OCR also had the highest increase (26.3% YoY), followed by the RCR (21.6% YoY), and the CCR (21.8% YoY).

Volumes likewise rose in July, increasing 5.3% MoM to 4,809 units. The volume, however, was 2.9% YoY lower than the same period last year and 9.1% lower than the five-year average volume for July.

Of the total volume, 38.1% were from the OCR, 35.7% were from RCR and 26.2% were from CCR.