Recent reports reveal that the rental volumes for condos as well as Housing Board (HDB) flats rebounded in the last month after a great decline in the previous quarter. However, rents hit the peak highs in the month of March while surpassing the last peak reported in August 2013 by almost 1%. On the other side, the rental price for condos went off the peak by 0.8% in comparison to stats observed from January 2013.
The experts in the real estate industry consider this a safe management measure that can facilitate viewings. The main contributing factors to this rise are the return of expatriates and foreign workers after relaxation in lockdown measures and the reopening of borders.
The rental volume for Singapore condos climbed by almost 21.2%, with an estimate of 4683 units in the previous month; however, it was 3863 units in February. A huge number of HDB flats in Singapore were leased last month. The range was high by 31.3% to the estimated 1767 units in comparison to 1346 units reported in the previous month. Observations reveal that condo rents increased by 2.9% at a quicker pace in comparison to the 1.4% in the February month. The HDB rents further increased by 1.4% as compared to the 1.7% estimate of the previous month. It is reported to be the 15th straight month for condo rental growth and the 21st for rental of HDB flats.