HDB volumes also decreased month on month in August, by 12.3 per cent.
SINGAPORE - The condominium rental volume dipped 14 per cent in August, a reversal from July’s upward trajectory, while prices continued to increase, rising 0.3 per cent.
By region, 35.2 per cent of the total volume came from the outside central region , 34.5 per cent from the rest of central region , and 30.4 per cent from the core central region . Ms Christine Sun, chief researcher and strategist at OrangeTee, said “rents may have bottomed out” but more data in the coming months is needed to confirm if the market is on a solid recovery path.
Ms Wong Shanting, head of research and market intelligence at ERA Singapore, said: “While the rental market has started to see some form of recovery, this might be short-lived, as an estimated 7,000 units are slated to be completed in the second half of 2024. This will inject fresh rental inventory in the coming months.”Prices decreased 0.5 per cent in mature estates and 0.4 per cent in non-mature estates.
The HDB rental volume also fell month on month in August, by 12.3 per cent, with an estimated 2,626 flats rented, compared with 2,993 units in July.
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