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End of sky-high rents? Property agents, analysts point to signs of a softening rental market
Rents have surged over the past three years as the rental market boomed. Insight examines the current state of the market, and what’s next.
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A combination of inflation and the rising cost of living could have affected tenants’ abilities to afford high rents.
ST PHOTO: DESMOND FOO
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SINGAPORE - Last September, a studio apartment at 26 Newton was rented out at $4,000 a month – $200 more than what the landlord had asked for.
Ten potential tenants viewed the 474 sq ft unit, two of whom made an offer on the same day. The landlord accepted the highest bid from a Japanese professional, recalled Ms Samantha Foo, associate marketing director at Huttons Asia, who marketed the property.
