Private rents declined across all sectors in 2014: SRX

What could break the ongoing fall?

According to the SRX Property Price Index for Non-landed Private Residential Rentals, rents posted a drop of 0.8% in December compared to November.

Non-landed Private Residential units in all three sectors (CCR, RCR and OCR) saw decrease in rents of 1.2%, 0.6% and 0.3% respectively.
According to the SRX Property Price Index for Non-landed Private Rentals, rents have been falling since Feb 2014, rents have declined 6.4% since the start of the year, year-on-year, rents in December 2014 are down 5.3% from December 2013 and rents in December are 10.1% down compared with its peak in January 2013.

Meanwhile, an estimated 2,968 Non-landed Private Residential units were rented in December 2014. This represents a slight 2% decrease from 3,026 units rented in November 2014. Year-on-year, rental volume in December 2014 is 14.1% higher compared to 2,601 units rented in December 2013.