Demand for private rental homes rose in the first quarter and could grow further as the economy improves, but the glut of vacant properties means rents will likely weaken or stay flat.
It noted that there were 13,077 leases signed in the three months to March 31, up 4 per cent on the same period last year.
Much of the rise was due to an 11.2 per cent increase in leases in what is called the Rest of Central Region, an area that includes Bishan, Toa Payoh, Little India, Queenstown and Geylang.
Leases signed for homes in this zone accounted for 37 per cent of all rental transactions in the first quarter of this year - its highest proportion since 2004.
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Asia Square in Singapore
Asia Square Tower 2
Demand and Supply Fundamentals
Demand and Supply of Rental in Private properties
Outside of Central Region OCR
Rentals of Grade A Offices
Rest of Central Core Region RCR
Supply of Grade A office Buildings in CBD
Vacancy Rates versus Total Housing Stock
Vacancy rates vrsus Property Price Index