Downtrend: HDB flats in Singapore. The sharp fall in rental volumes, which was also seen in July, could signal the start of a ‘domino effect’ for the rental market, which has been hampered by an economic slowdown and rising unemployment among foreigners in Singapore.
SINGAPORE: Rents for Housing Board flats and private apartments held steady in August but leasing took another big hit, with rental volumes falling to levels lower than during the circuit breaker period, going by flash data from real estate portal SRX Property on Wednesday.
August leasing for private condominiums and apartments tumbled 20.4% month on month to 2,716 units.
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