News: Rents for ultra-luxury residential properties grow 10.6% in Q3 2019

Oct 31, 2019

Rental yields for the ultra-luxury properties increased from the previous quarter but remained unchanged for the mass market residential properties.

Rents for ultra-luxury residential properties grew 10.6% quarter-on-quarter (QoQ) for Q3 2019 in a reversal of two straight quarters of decline, reported Singapore Business Review citing Knight Frank.

Source: Knight Frank

Source: Knight Frank

This translates to rental yields for the ultra-luxury properties increasing in Q3 after a decline in the previous quarter. In comparison, rental yields for the high-end, middle-end and mass market residential properties remained stable for the most part.

High-end properties’ rents also grew 6.3% QoQ in Q3. In comparison, residential rentals for the middle-end and mass market private residential properties remained flat, with vacancy rates for these segments continuing to be stable.

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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg

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