CONDO RENTALS UP
DUE TO EXPATS RELOCATING
Rentals for non-landed homes across all segments grew in Q2
2012, buoyed by the seasonal increase in leasing activity during April and May,
noted DTZ Research.
The trend is due to expatriates moving to Singapore
after the summer holidays and the fact that they tend to confirm rental
contracts between April and May.
For suburban condos, rents inched up 1.9 percent
quarter-on-quarter following a 0.6 percent rise in Q1.
Likewise, prime condos saw rents climb slightly by 1.5
percent in comparison to Q1 when zero growth was observed.
“Despite global economic uncertainties which have affected
expatriate relocations, rents of luxury condominiums edged upwards in the
second quarter, supported by rental demand from top-end expatriates who still
have the budgets to rent luxury apartments even if there are now fewer of them
relocating to Singapore,” said Margaret Thean, Executive Director for
Residential at DTZ.
However, cost-conscious mid-tier foreign professionals whose
relocation packages do not cover housing allowances “continue to support rental
demand for apartments in the range of S$3,000 to S$7,000 per month”, she added.
Info courtesy -
PropertyGuru.com.sg
