Condo rents fall 0.5% MoM and 4.5% YoY in May

All sub-markets posted decreases.

Condo rents dropped by 0.5% MoM and 4.5% YoY in May, data from 99.co and SRX showed.

Rents also fell across sub-markets, led by the Rest of Central Region (RCR) which saw a 1.1% MoM and 4.9% YoY drop.

The Outside Central Region (OCR) is close behind, with a 0.7% MoM and 4.9% YoY dip.

Rental volumes also decreased in May, falling 12.2% MoM and 0.4% YoY to 5,155 units.

The latest record was 5.7% lower than the five-year average volume for May.

Of the total volume, 35.5% was from the OCR, 33.5% from RCR, and 30.9% from CCR.

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