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Bangkok Post
Bangkok Post
Business

Singapore apartment rents soar 31% with further gains to come

Singapore

Singapore’s rental market could get even hotter due to the latest property curbs and a tightening housing supply.

Rents for private apartments have soared nearly 31% by September compared with a year ago, jumping for 21 consecutive months, according to data from real estate portals 99.co and SRX. 

Property austerity measures in September aimed at housing purchases could cause more people to rent, driving leasing prices higher, according to Pow Ying Khuan, head of research at 99 Group. An influx of expatriates and wealthy immigrants has bolstered the city-state’s property market, triggering concerns about affordability. 

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