26 Nov '13, 6am

Private rental market robust in Q3

Singapore’s rental market performed strongly in the third quarter this year, with private residential leasing volumes increasing 11.6 percent quarter-on-quarter to 15,083 cases, according to a Savills report. This brings total leases secured during the first nine months of the year to 40,319, up 6.0 percent from the 38,023 leases signed over the same period last year. With the Ministry of Manpower’s Fair Consideration Framework (FCF) taking effect in August 2014, leasing demand for staff accommodation or short-term rentals is expected to grow over the next six months, “as a new influx of overseas nationals move their plans forward to relocate here before both the job market and immigration policies tighten further”, the report noted. Despite strong demand, the vacancy rate of private residential units rose to 6.1 percent quarter-on-quarter, or 17,459 vacant private homes i...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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Private rental market robust in Q3

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