Latest Market News

Private home rents pick up

Saturday 23 January 2010

After suffering through five quarters of rental decline and a 20 per cent drop in rents since 2008, they may finally be able to raise their rates this year. Private home rents halted their slump and started to turn around with a 0.6 per cent rise in the fourth quarter of last year, according to figures released by the Urban Redevelopment Authority (URA) yesterday.


Although rents still haemorrhaged 14.6 per cent for the whole of last year, consultants say they have stabilised and are on the way to recovery.


'From September last year, we started seeing more landlords raise rents off the lows of the first and second quarters of last year,' said Mr Donald Han, managing director of Cushman & Wakefield.

Source: The Straits Times