Reopening of borders not expected to have a significant impact on the rental market

Whether it is reuniting with your family members or simply revisiting your favourite food haunts, the reopening of land borders with Malaysia earlier this month, has been a long time coming. With fully vaccinated individuals able to travel between Singapore and Malaysia, some Malaysians would be exiting Singapore’s rental market.

Some may wonder, what significance— if any— would this have for Singapore’s property market?

Property analysts believe that the residential leasing market would not see a notable direct impact. That said, the reopening of borders would spur Singapore firms to tap into the international talent pool, thereby increasing the demand for rental properties down the road.

Not only would the delays in the construction of build-to-order (BTO) flats caused by the Covid-19 pandemic lead homebuyers to turn to the rental market, but the trend of single individuals renting a residential property would also boost the demand in the residential leasing market.

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