Condo Rental Market Shows Stability in 2024 as Demand Improves Steadily
Condo Rental Market Shows Stability in 2024 as Demand Improves Steadily
"Nevertheless leasing demand in Oct 2024 was higher than a year ago, indicating resilience in the rental market. While there was more completions of condo in the past two months, easing interest rates took some pressure off landlords and they are holding firm to their asking rents," Huttons said.Despite condo rental transactions dropping by 7.5% in October
尽管10月份公寓租赁交易下降了7.5%
The condo rental market is expected to remain stable through 2024, with a potential flat growth trajectory as demand gradually improves amidst an economic recovery, Huttons said.
Huttons表示，公寓租赁市场预计在2024年将保持稳定，随着经济复苏，需求逐渐改善，可能会呈现平稳的增长轨迹。
Despite condo rental transactions dropping by 7.5% in October, rents remained firm which reflected resilience in the market.
尽管10月份公寓租赁交易下降了7.5%，但租金保持坚挺，反映了市场的韧性。
"Nevertheless leasing demand in Oct 2024 was higher than a year ago, indicating resilience in the rental market. While there was more completions of condo in the past two months, easing interest rates took some pressure off landlords and they are holding firm to their asking rents," Huttons said.
"然而，2024年10月的租赁需求高于一年前，这表明租赁市场的韧性。虽然过去两个月完成的公寓数量增加，但利率期货的下降缓解了房东的一些压力，他们坚守自己的要价租金，" Huttons说。
For OrangeTee, this growth is due to rising interest in luxury and premium housing, particularly in the Core Central Region (CCR), driven by tenants seeking amenities, prime locations, and narrowing cost differences with other segments.
对于OrangeTee而言，这一增长是由于奢侈和高档住房的兴趣上升，尤其是在核心中央地域板块（CCR），推动因素是租户寻求便利设施、优越位置，以及与其他板块的成本差异缩小。
"For instance, CCR formed a slightly higher proportion of the market share at 32.2 per cent in October 2024, up from 30.9 per cent in May 2024. This shift suggests a gradual increase in demand for premium housing as rent gaps continue to close within market segments," the expert noted.
"例如，2024年10月CCR所占市场份额略微上升至32.2%，高于2024年5月的30.9%。这一变化表明，随着租金差距在市场板块之间继续缩小，对高档住房的需求逐渐增加，" 专家指出。
