Rental prices of private homes in Singapore fell by 3.1 percent at the end of Q3 2014 from the year before, according to Knight Frank’s prime global rental index.
The city-state was one of 15 cities tracked by the index.
On a quarterly basis, rents here dropped by 1.9 percent in Q3 from the previous three-month period.
Meanwhile, prime rents worldwide increased by 2.1 percent in the year to September 2014, down from 5.8 percent a year earlier.
This represents the index’s weakest rate of annual growth for almost five years, stated Knight Frank.
The consultancy predicts that prime rentals in Singapore could decline by 5.0 to 8.0 percent in 2015.
Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
