Promising Outlook for Private Residential Leasing Market
A Savills study report predicts that 2019 will be a landlord’s market despite a softening expatriate demand. The report postulates that this loss in demand is replaced by increased demand from the local populace, especially the displaced owners of en bloc sales. This would bring some rejoice to homeowners of private properties who are also landlords.
There will be a lower supply of units this year as fewer units are expected to be completed. Hence, the rental rate is forecasted to rise slightly in 1-2%, in particular, newer properties will be expected to have better take-up rates.
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