Private property rents for 2022 at highest level since 2013

Surging rents caught many tenants by surprise, with many having to move after their leases were up and landlords hiked prices. PHOTO: ST FILE
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SINGAPORE – Private residential property rents hit a record high in 2022, surpassing the previous peak in 2013.

An index tracking rents in the sector was 23.9 per cent higher in the July-to-September quarter of 2022 compared with the same period in 2021 and 16.7 per cent ahead of that 2013 benchmark, noted the Urban Redevelopment Authority.

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