Condo rents rise 0.3% MoM but fall 3.7% YoY in August
OCR led sub-markets in a sequential rent increase.
Condo rents rose by 0.3% MoM but fell 3.7% YoY in August, data from 99.co and SRX showed.
Rents also increased across sub-markets on a sequential basis, led by the Outside Central Region (OCR), which saw a 0.6% increase.
Year-on-year, however, OCR rents fell 3.4%.
Meanwhile, the Rest of the Central Region (RCR) reported a 0.4% MoM increase and a 3.4% YoY drop in rent.
The Core Central Region (CCR) reported the steepest YoY rent decline, falling 4.5%. On a sequential basis, CCR’s rents increased by 0.2%.
Rental volumes also increased in August, rising 3.8% YoY to 6,994 units. MoM, however, volumes fell 14%.
The latest record was 7.6% higher than the five-year average volume for August.
Of the total volume, 35.2% was from the OCR, 34.5% from RCR, and 30.4% from CCR.
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