Suburban condo rents are increasingly under pressure in the current market, though for new completions on the city fringe, rents appear to be holding up.
With more choices, tenants are typically relocating to central locations, often preferring newer condos within their affordability range.
"Suburban projects, and projects which do not have large-scale facilities, may lose out in the chase for tenants. Older developments are also losing out tenants to newer developments," said ERA Realty's key executive officer, Eugene Lim.