RCR for rent: Rental deals in city fringe hit 10-year high

The suburbs is becoming the place to be.

The Rest of Central Region saw a strong surge of rental volumes, up by 11.2% yoy, and rental transactions in the area were calculated to make up 37% (around 4,839 leases) of all transactions island-wide, the highest since 2004.

Meanwhile, market condominiums in the Outside Central Region received a 1.5% yoy increase in leases, while the Core Central Region’s leases fell by 1.1% yoy.

“City fringe areas are more appealing than those in other locations,” the report said, explaining that expatriates are balancing tighter rental budgets with accessibility factors.

Here’s more from the report:

In terms of private residential leasing demand by market segment, Savills noted that the yearly proportion of rental transactions in the city fringe areas, or the RCR, has steadily increased and surpassed those in the CCR and OCR since 2012.