Rents of Condos, HBD flats fail again in 2015.In the year 2015, SRX property reported a 5.4% drop in the rental index. This was a large fall as compared to the registered fall in the preceding two years for Clementi Avenue One Condo. This indicates a continued decline in the renting of non-landed but privately owned homes and Housing and Development Board flats. In fact ERA predicts that this trend will heightened in this whole year. There is expected to be a 5%-8% dropping in the number of people seeking to rent non landed houses.
Rents for Clementi Condo near NUS
Due to the strict immigration rules and the influx in the availability, rents are likely to feel the real pressure in this year of 2016. This is even more certain in areas where many of the completions are occurring like the Outside Central region. Available information from SRX states that 2015 posted 6.4% drop in rents in the Outside cores region while the core central region posted a 7.6% drop. It is the same trend of continued drop that SRX posted in its property listing in Clementi Condo near NUS. They dropped 2% in 2013, 2.5% in 2014 reaching a quicker pace in 2015 with a 4% drop. SRX asserts that that December 2015 dropped the highest with an 8.6% drop with regard to UOL Clementi Ave 1 Condo rents.
Falling Rents Clementi Avenue One Condo
A month on month analysis reports a similar trend with a 0.5 % index drop in November 2015 followed by a 0.6% index drop in December 2015.However, SRX reports a growing demand for HBS flats. There was an 8% steady growth in the demand from some years reaching the peak in December 2015 with 1817 sales. Mr. Lim, the director of SRX attributes this to the large cost of relocating that most expatriate are unwilling to pay in Clementi Avenue One Condo. They in turn seek HBD flats for renting.
UOL Clementi Ave 1 Condo
The private sector has also experienced a growth in the leasing of Clementi Ave 1 Condo transactions of its condos and apartments. In December 2015, they posted a 6.4 % growth from the previous year posting 3,093 leases. However, experts have attributed this more to the renewing of the existing leases than to the making of new leases. Mr. Lim asserts that tenant prefer to make short leases to capitalize on the deteriorating lease environment. Clementi Avenue One Condo Short leases are also preferable also increase the rate of leasing deals and hence post an increase in the volume of rental transactions.