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This is the third month condo rents have stayed flat. With the country’s endemic roadmap on pause for now, it means there will unlikely be a boost to rental demand in the short term.
The HDB rental market saw sustained growth in August. Delays in completion of private residential projects mean that some buyers have to continue their tenancy thereby limiting the supply of flats for rent. Some single professionals are choosing to rent so as to have their own space while working from home, resulting in an increase in demand.
However the resident unemployment rate inched up in July 2021 and that may exert some pressure on rents in the coming months.
