Rents for non-landed private houses climbed a month at its strongest rate since January, even though four consecutive months of reduced leasings, whilst HDB rents inched down, based on flash statistics from property portal site SRX Property on Wednesday (Dec 11).
In general condo rents rose 1.2 percent in November from the previous month, and now therefore are up 4.6 percent year on year.
The SRX flash statistics also revealed that 3,980 personal non-landed units were rented in November, down 7.6 percent from October, and 3.1 percent lower than one year ago. But, volumes are 7.5 percent greater compared to average quantity for the month of November.
The Monetary Authority of Singapore (MAS) noted in its yearly Financial Stability Review published last month per”equilibrium in lease prices” that indicates that occupancy requirement is sufficient at this juncture to consume recently completed components. However, MAS cautioned the heated financial outlook coupled with the expected gain in the supply of finished units in the medium term, could cause new downward pressure on rentals.
Therefore, the MAS cautioned against overleveraging, stating that investors who borrowed higher mortgage payments relative to volatility could face problems meeting the payments on their investment properties.
Within the public housing marketplace, HDB rents dipped 0.1 percent a month from October, even though they are up by 1.6 percent from November 2018. In comparison to their summit in August 2013, HDB rents continue to be off by 14.5 percent.