Leasing demand for homes surged 15.4% to 13, 522 in 2Q13

Here are possible reasons behind it.

According to Savills, despite some curbs on the issuance of employment passes, leasing demand continued to increase, with the total number of leases signed in the second quarter reaching 13,522, a growth of 15.4% QoQ or 7.0% YoY.

Overall, leasing volumes in the first six months were resilient when 25,243 cases were recorded, marking a 5.4% increase as compared with the leasing volumes seen in the same period last year.

Here's more from Savills:

Current demand for temporary homes was probably driven not only by an increasing number of overseas nationals who are here on a short-term project basis of between six months and a year, but also by the rising number of newlywed couples waiting for their homes to be completed, as 27,936 marriages were registered in Singapore last year, a 50-year high since the 1960s.

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