After a slight surge in March, the rental market softened in the past month because of the signing of new leases signed for private apartments and HDB plans. in percentage terms, it increased by two digits from February.
Experts noted that after the New Year Chines, in particular, that relief was expected because of the entry of foreign professionals who tend to be much higher at the beginning of the year. A lot of companies from various sectors are doing headcounts reduction because of the economic times that require more caution. Another thing that is quite likely to happen is the significant increase of prominent foreigners in Singapore from April or mid-year in order to generate fresh locations. What is still suffering negative effects because of the increase in private residential completions is the rental of private homes because of the giant competition between the owners.
Both segments suffer a higher volume year after year - reflecting the unchangeable nature of this lease, generating leases as short as six months. Private apartment rents remained unchanged in relation to rents in the past and even after the fall of 1.4% in March. On the other hand we have the HDB rents had a decrease of 0.6 percent, after another drop of 0.4 percent in March, values with quick estimates SRX property.
Because of a number of growing combimados home conclusions, both seem a slide which combine with little new demand from expatriates. Rents in core central region (CCR) were not aterações since March largely rents in the central region (RCR) increased by 0.1% and rents in the central region of the outside (OCR) or suburbs so freu falling 0 ,1 %. Year after year, rents are 5.4% lower overall. lace CCR mostraração a decrease of 1.9%; RCR lace is showing off 8.2% and OCR income decreased 6.8%.
The director R'ST Research, Ong Kah Seng said that tenants have many options since the HDB are suffering fall, because of the increase in condominium closed conclusions with a view to 2014 and over up HDB apartments for sublease as the update of their owners. In mature properties HDB rents fell by 0.3% and non-mature properties fell by 0.9% in April. Again, over the years, rents in mature properties proved in a yield of 3.9% less and those in non-mature properties 4.8% lower.
Last month the amount of private leased apartments fell 10.3% to 3,953, however there is a 10.5% increase compared a year ago.In March, the volume of HDB rental had a decrease of 2.2% to 2,048, but was 5.8% higher in the year in the year.
The competitiveness between rentals is getting fierce. The owners must be prepared to encounter difficulties renting if they try to keep their rents previously negotiated.