Huge unit supply gives tenants bargaining power. In its latest analysis of the Singapore residential rental market, Knight Frank Singapore said that there are over 16,000 private residential units launching island-wide in 2013.
Rents are anticipated to see downward pressure this year as prospective tenants are presented with ample housing options.
Leasing demand for residential units in prime districts has been moderating for the past 2 quarters, as accommodation budgets for many Singapore expatriates are constrained amid a challenging global business environment. Budget-conscious expatriates are also seen to be opting for units in the city fringe and suburban locations
Rental mkt has cool down quite abit BUT I think you'll really see the effect by yr end & next year.
ReplyDeleteWhy? because Landloards still can hold- cash rich lah!
It's true, my immediate neighbour is from Indonasia , they just leave their apt empty. Come only like 3 , 4 times a yr- to look see. They don't even bother to rent it out as they said it's too troublesome! It's been years!
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