SINGAPORE: Rents for luxury homes have soared amid demand from high net worth individuals, who are willing to pay top dollar for these homes, analysts said.
Singapore's red-hot property market saw rents rising to record highs last year. But signs pointed to a slowing down, with condominium rents up 6.2 per cent in the first quarter – down from 7.5 per cent in the October to December period and 8.3 per cent in July to September.
But landed property rents have continued surging, with a 14.5 per cent hike in the first quarter. This came after several quarters of increases, adding up to a year-on-year jump of 39.3 per cent.