Condo rents climb 3.3% MoM in September

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

Condo rents climbed for the 21st consecutive month in September, rising 3.3% MoM and 30.9% 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 3.9% MoM, followed by the Outside Central Region (3.3% MoM), and the Core Central Region (2.6% MoM).

On a year-on-year basis, RCR also had the highest increase (31.8% YoY), followed by the OCR (31.3% YoY) and the CCR (29.3% YoY).

Volumes likewise rose in September, increasing 9.8% MoM to 4,760 units. 

The volume was also 1.9% higher than the same period last year and 5.6% above the five-year average volume for September.

Of the total volume, 38.0% were from the OCR, 35.3% from RCR and 26.7% from CCR.