197 views
Photo from Pexels by Kate Branch

HDB rental demand weakens as businesses close

Tenants are not renewing HDB leases but are moving into condos instead.

Demand for HDB rental is weakening due to business closures in the retail and F&B industry, according to Mark Yip, CEO of Huttons Asia.

He noted that some tenants are not renewing their HDB leases but are moving into condos instead. 

However, some HDB owners may upgrade condos and rent a HDB flat in the interim as the condo rental market demand slowly returns.

It may provide some support to the HDB rental market and increase rents between 2% and 3%. 

Join Singapore Business Review community

Follow the link s for more news on

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.