Condo rental demand to increase

With the housing supply depleting even as the exuberance in the housing market remains strong, an upward trend in home rental prices for the rest of the year is to be expected.

While the construction sector is recovering from the impact of the Covid-19 pandemic, the supply chain disruption nonetheless continues to impede the construction of Build-to-Order (BTO) flats and private properties alike. This has led homebuyers to turn to rental properties in the meantime, thereby boosting the market demand.

Additionally, the easing of travel restrictions would also boost the number of foreign employees and in turn, the rental market for private properties.

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