Residential leasing volumes hit record high at 15,803 leases

[princess_morbucks]

http://sbr.com.sg/residential-proper...h-15803-leases

Find out what caused the boost.

According to Savills, in contrast to the mixed signals in the residential sales market, the rental market witnesse d a buoyant performance in the third quarter when private residential leasing volumes registered a new record of 15,083 cases.

This is an 11.6% QoQ increase, leading to a total of 40,319 leases inked in the first nine months, 6.0% higher than last year’s 38,023 leases recorded over a similar period.

Here's more from Savills:

As the FCF will come in force in August 2014, employers may expedite their applications for new EP holders. Leasing demand for staff accommodation or short-term rentals could increase over the next six months, as a new influx of overseas nationals move their plans forward to relocate here before both the job market and immigration policies tighten further.

It is expected that the residential leasing market will continue to flourish in the fourth quarter of this year with volumes hovering around 11,000 transactions, similar to that in Q4/2012.

[indomie]

If on average rental is 3000 dollar x 15,083 cases = 45,249,000 dollar rental money is paid every month.

[Reisor]

If on average rental is 3000 dollar x 15,083 cases = 45,249,000 dollar rental money is paid every month.

a $540 mil business for Sg. Profitable almost all the time.

[minority]

divided by the no. of agent in the field. 30 577 agents?

so works out to be abt 1400pm for each agent. hardly survive on rental alone.

[Reisor]

divided by the no. of agent in the field. 30 577 agents?

so works out to be abt 1400pm for each agent. hardly survive on rental alone.

Tough to be the average agent, I believe 80% of the biz is earned by the top 20%. These top agents should also be investors having the best info on new sales out there.

The best still to be landlord.

[kane]

this bodes well for home owners.