Singapore rental market for both private and HDB properties is showing no signs of improving, going by flash data from real estate portal SRX on 10 October.
Rents for condominiums and private apartments in September dipped by 0.4 per cent from the previous month. They were unchanged in August, from an earlier SRX estimate of a 0.1 per cent dip.
After falling quite far from their peak and then stagnating, private rentals have barely budged from a year ago – they are down by 0.1 per cent from September 2017. Compared to their record high in January 2013, they are weaker by 19.4 per cent.
Going by location, private rents in the prime or core central region (CCR) decreased by 0.5 per cent month on month in September. Rents in the suburbs or outside central region (OCR) declined by 0.7 per cent, while rents in the city fringes or rest of central region (RCR) were unchanged.