Rents and leasing volumes of non-landed private houses and Housing Board flats climbed last month, revealing as no impact from the coronavirus outbreak, based on flash quotes from property portal site SRX Property yesterday.
The tender from Kopar at Newton in Kampong Java came has closed after attracting up to 7 bids.
The development in personal rental volume might be on account of a renters returning to Singapore following the New Year vacation, stated ERA Realty’s head of consultancy and research Nicholas Mak.
Some tertiary educational institutions begin the new school period in February and also this season, leading overseas students at these schools to lease their own accommodation during the month, he explained.
As a result of limited supply of residential units, under ordinary market conditions, a few need might spill over to HDB leasing, encouraging the rise of HDB rental prices, he added.
However, Mr Mak said the doubts arising out of the coronavirus outbreak can observe the public and private home rental indices remain mostly unchanged in the forthcoming months.
For last month, condo rents at the center central place (CCR) climbed 0.9 percent month on month; people for the remainder of fundamental area (RCR) decreased 0.4 percent; and rents by the external central place (OCR) kept stable.
Rents in most areas were up year on year, together with the CCR climbing 5.1 percent, the RCR up 2.9 percent and the OCR rising 2.4 percent.
Meanwhile, the volumes rose 20.6 percent having a estimated 4,830 units leased throughout the month.
Year on year, leasing volumes climbed 20.3 percent, 32 percent greater compared to average quantity for the month of February.
In terms of the HDB rental marketplace, rents rose 0.4 percent from January and 2.4 percent year on year.
Rents in older property and non-mature estates climbed 0.5 percent and 0.4 percent from January, respectively.
HDB leasing volumes also rose 11.5 percent from January and 17.9 percent year on year.
Volumes were 15.2 percent greater compared to average quantity for February.
Four-room apartment rentals took up 36.1 percent of this quantity a month, followed by 32 percent for three-room apartments, 25.5 percent for five-room apartments and 6.4 percent for executive apartments.