Condo rental yields decrease
Rental yields for condominium apartments have fallen below the psychological 4 percent support level. Overall gross median rental yield for the first half of 2013 stood at 3.9 percent, compared to 4.2 percent in 2012 and 4.4 percent in 2011, according to the Singapore Real Estate Exchange. Areas which experienced the sharpest fall include Southern Islands (28.4 percent), Orchard (28 percent) and Jurong East (17.4 percent). The Southern Islands have the lowest rental yields of 1.7 percent, followed by Newton with 2.2 percent and Orchard with 2.6 percent. Rentals could be under continued pressure as a record 16,000 completions are expected this year.
(Source: Business Times)
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