Condo rentals surge 38.1% in July

OCR made up 3,772 units of the monthly total.

Condo rental volumes increased by 38.1% month-on-month in July to about 9,627 units, the highest monthly volume in a year, compared to 6,973 in June, according to flash estimates from 99.co and SRX.

Year-on-year, rental volumes were 10.6% higher compared to 8,701 units in July 2025.

Rental activity also remained 19.5% above the five-year average for July.

By region, the Outside Central Region accounted for 39.2% of total rental transactions at 3,772 units, followed by the Rest of Central Region at 33.2% with 3,193 units, and the Core Central Region at 27.7% with 2,662 units.

Looking at the wider trend over the past 12 months, rental activity has followed an uneven trajectory.

The market entered a period of decline starting in August 2025, when volumes stood at 7,963 units, continuing to fall until November at 5,320 units.

Rental volumes then staged a brief two-month recovery, rising to 6,041 units in December and 6,757 units in January 2026.

Volumes sank to their lowest level of the 12-month period in February, at 5,022 units.

Activity remained relatively flat between March and April, at 6,386 units and 6,492 units, respectively.

Rental activity cooled once again in May to 5,858 units, before climbing to 6,973 units in June.

That set the stage for July's sharp rebound to 9,627 units. Momentum from June carried into July's rebound, capping a volatile 12 months for the segment.

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