Private condo rental volume jumped 15% in January

Over 3,400 units were rented last month.

The rental volume of non-landed private residential properties jumped 15% in January, according to data from SRX Property.

A total of 3,411 units were rented last month, an increase from 2,966 units in December. On a year-on-year basis, however, rental volume dropped 1.2%.

Rents ticked up 0.2% month-on-month, following a 0.4% increase in December. This marks the second consecutive month of stable prices after declining for 10 consecutive months since February 2015.

Rents in the city fringe and in outlying regions rose by 1.2% and 1.3%, respectively, while rents in prime regions rose 2.4%.

On a year-on-year basis, rents declined by 5.5%. Private rents in January were 14.6% down compared to its peak in January 2013.