12 Jan '17, 9am

New post added at LushHomeMedia - Private home rental down 6.2% in 2016

RENTALS for private homes are taking a hit over the huge supply of condominiums and apartments available for rent and the business uncertainty among corporates. In December, rents fell by 1.3 per cent from the previous month, going by the SRX Property price index for non-landed private rentals released on Wednesday. This was driven by rental slides in the Core Central Region (city area) and Rest of Central Region (city fringe) of 1.7 per cent and 2.6 per cent, respectively. Only the Outside Central Region (suburbs) escaped unscathed, with rents staying unchanged for the month. For the full year, it is down 6.2 per cent. R’ST Research director Ong Kah Seng said that this supports his observation of landlords automatically reducing rents for existing tenants upon expiry of their lease, generally by about 6-8 per cent, especially if they are comfortable with the tenants and w...

Full article: http://www.lushhomemedia.com/manage_posts/2017/01/12/priv...

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