SINGAPORE - Rents of both public and private homes continued another month of decline last month, according to flash figures released by Singapore Real Estate Exchange (SRX) Wednesday.
November marked the 10th consecutive monthly fall in rents for private homes, the SRX said in a press release. Rents for the private homes have declined 5.7 per cent since the start of the year. Year-on-year figures show that last month's rents fell 5.3 per cent from November 2013.
Rental volume in the private housing sector also shrunk with an estimated 2,892 Non-landed Private Residential units leased out last month. That was an 11 per cent decrease from 3,251 units rented in October.
In the public housing segment, rents fell 0.1 per cent last month following the 0.5 per cent drop in October. Year-on-year figures show that last month's rents were down 2.2 per cent from November 2013.