Condo rents climb 2.7% MoM in October

Across sub-markets, RCR saw the highest rent increase.

Condo rents climbed for the 22nd consecutive month in October, rising 2.7% MoM and 32.7% YoY.

According to data from 99.co and SRX, rents climbed across all regions, with the Rest of the Central Region (RCR) posting the highest increase of 3.2% MoM, followed by the Outside Central Region (2.6% MoM), and the Core Central Region (2.1% MoM).

On a year-on-year basis, RCR also had the highest increase (34.2% YoY), followed by the OCR (32.6% YoY) and the CCR (31.1% YoY).

Volumes, on the other hand, decreased in October, dropping 8.7% MoM to 4,355 units. 

The volume was also 13.9% lower than October 2021 and 5.9% below the five-year average volume for October.

Of the total volume, 39.0% was from the OCR, 35.3% from RCR and 25.7% from CCR.