With the cooling measure, the market is softening and the rental market isn’t exempted. Forecast is that the rental for luxury segment will slide by 8-10%.
Luxury rents may drop 8-10%
Apr 23, 2015 The slowdown in demand for high-end homes has exacerbated the already weak leasing market, said a Colliers International report. In Q1 2015, the average monthly gross rent for luxury and super luxury apartments fell 2.2 percent quarter-on-quarter, following a 0.8 percent drop on quarter in Q4 2014. The report noted that newly completed homes and unsold inventory competed with existing stock to vie for a limited pool of tenants who mainly comprise existing tenants searching for alternative accommodation. Read more…
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