Rise in rents for private homes

While there was a 8.7% fall in the volume of private properties leased in Q2 2022, the rents for high-end private residential properties in the same timeframe saw a 7.6% quarter-on-quarter increase culminating in a new high for private rents in around 8 years.

Rental increases are expected to persist till next year, in view of the robust rental demand and construction delays. However, the surge in rents could mark the start of a cycle whereby companies may be inclined towards reducing the number of foreign staff on their Singapore-based team, and in turn, bringing about a decline in the demand in the rental market.

Interested in learning how this trend would affect your property journey? Have a chat with us to find out how we could help you with your property needs.