Condo rents fall 0.4% MoM and 4.6% YoY in April
All sub-markets posted decreases except the Core Central Region.
Condo rents dipped by 0.4% MoM and 4.6% YoY in April, data from 99.co and SRX showed.
Rents also fell across sub-markets, except the Core Central Region (CCR), which saw an increase of 0.1% MoM.
In the Rest of Central Region (RCR) and the Outside Central Region (OCR), rents fell by 0.2% MoM and 0.5% MoM, respectively.
On a year-on-year comparison, rents across all submarkets decreased, falling by 5.2% in the CCR, 4.3% in the RCR, and 4.1% in the OCR.
Whilst rents decreased, rental volumes increased in April by 3.1% MoM and 4.4% YoY to 5,874 units.
The latest record, however, was 6.0% lower than the five-year average volume for April.
Of the total volume, 35.4% was from the OCR, 32.1% from RCR, and 32.4% from CCR.
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