Condo rents dip 0.5% MoM in December

Year-on-year, however, rents increased.

Condo rents decreased by 0.5% MoM but increased 2.6% YoY in December, data from 99.co and SRX showed.

Rents dropped across submarkets, led by the Rest of Central Region (RCR), which recorded a decline of 1.0% MoM. 

In the Outside Central Region (OCR), rents decreased by 0.6% MoM, whilst rents fell by 0.5% MoM in the Core Central Region (CCR). 

On a year-on-year comparison, rents across all submarkets increased, rising by 0.9% in the CCR, 2.6 % in the RCR, and 4.4% in the OCR. 

Meanwhile, volumes increased in December by 14.0% MoM to 5,644 units. Year-on-year, however, volumes fell 11.6%.
 
The volume was also 12.6% lower than the five-year average volume for December.

Of the total volume, 38.2% was from the OCR, 33.6% from RCR, and 28.2% from CCR.