Trading volume still reflects the good fundamentals of the leasing market. If the overall private home rental volume in April is increased by 3.6% compared with the same period last year.
In the HDB rental market, rents increased by 0.3% compared with March, and the number of leases achieved a month-on-month increase of 5.9%, with an estimated 2,881 transactions completed.
The growth of rents for non-land private homes in Singapore has gradually stabilized. Overall rents in April this year rose slightly by 0.1% compared with the previous month. However, demand in the rental market remains strong, with the volume of rentals last month increasing by 2.7% month-on-month to 6,088.
April estimates released by the real estate website 99.co and Singapore Real Estate Joint Transaction Network (SRX) on Tuesday (May 20) showed that the rent increase of local non-land private homes slowed significantly, from a month-on-month increase of 0.4% in March to 0.1% in April.
99.co Chief Data Officer Luqman Hakim said there have been significant changes in tenants' behavior, becoming increasingly sensitive to rents, and are even less willing to compromise on homeowners' high asking prices.
If compared with the same period last year, the overall rent of private homes still increased by 2.5% in April.