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Tenants may find lower rents for condo units as vacancies rise
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A higher supply of private properties has weighed down rents, as over 29,000 homes were completed in 2022 and 2023.
PHOTO: ST FILE
Christine Sun
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The rental price gap between Housing Board flats and condos has narrowed substantially. Rents of private units have fallen for over six months, while HDB rents have remained stable, and even reached new highs in the same period. This has resulted in a discrepancy in the market performance of both housing types.
If these trends continue, renting a private home may become more appealing than renting an HDB flat, especially if tenants are willing to compromise on space in exchange for the added privacy that a private home can offer.
