30 Jan '15, 4am

#singapore #property More tenants prefer shorter leases: Singapore’s softening rental m...

Comment E-mail to friend Bookmark & Share Singapore’s softening rental market saw more tenants going for shorter leases. Notably, the rental index for private homes dropped three percent for the whole of 2014, while that of public flats fell 2.1 percent. The vacancy rate of private homes stood at 7.8 percent as at end-2014, or its highest in almost a decade. Experts believe that the rental scene has turned into a “tenant’s market” as more residential units are expected to be completed over the next two years. According to Lena Low, Key Executive Officer at Horizon Real Estates, nine of the 10 rental inquiries that she used to receive were for two-year leases. Now, fifty percent were asking for one-year leases, she said. ERA Realty revealed that one-year leases accounted for 39 percent of private home rentals in 2014, up from 36 percent in 2013. For public housing, one-year...

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

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stproperty.sg 30 Jan '15, 3am

In today’s property market, much of the action is in rentals. According to SRX Property, 67.7% of this year’s 84,092 total...