Rental Recalibration – Navigating the Post-Covid Housing Shifts
Singapore’s rental market is ready to turn over a new leaf. The 3rd and 4th quarters of 2023 saw a drastic drop in the rental increase index to a mere 0.8 and 2.7 percent, halting the relentless hikes for the past years and marking the start of rental moderation. In 2023, private home rentals grew 8.7 percent, a pretty humble leap, especially compared to the 29.7 percent jump in 2022. This correction is inevitable since to begin with, the hikes were brought upon short-lived economic issues that are expected to