Rents up in May for both private and public housing

Rents inched up in May for both private and public housing but the decline in the number of units rented continued, according to flash estimates yesterday.

These noted that rents for both residential segments rose 0.2 per cent from April.

Year-on-year, rents from non-landed private homes advanced a marginal 0.8 per cent but May's levels were 18.9 per cent below Jan 2013.

Rents of condos and private apartments did not budge in the prime or Core Central Region from April to May while they edged up 0.4 per cent in the city fringe, or the Rest of Central Region as it is sometimes known.

They were 0.2 per cent higher in the suburbs or the Outside Central Region zone, said data from real estate portal SRX Property.

OrangeTee & Tie head of research and consultancy Christine Sun noted the robust demand in certain areas, especially homes near good schools and MRT stations, and for bigger units.

"Some of the demand could be from the recently displaced en-bloc owners," she said. - THE STRAITS TIMES