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Is ‘cheaper’ rent on the cards soon in Singapore?
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The rental market is facing headwinds from a weaker domestic demand and increased housing supply.
ST PHOTO: CHONG JUN LIANG
Christine Sun
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SINGAPORE – The private rental market is finally seeing some moderation. After two years of continual increases, rent prices appear to have stabilised as growth rates stagnated for over six months.
The rental market is experiencing some headwinds from a confluence of factors, such as weaker domestic demand and increased housing supply. This is in stark contrast to a year ago, when strong demand drove up rent prices by almost 30 per cent, the fastest annual growth since 2007.
