SINGAPORE - Private home leasing demand picked up in the first quarter this year and could grow further as the economy improves, property consultancy Savills said on Monday.
However, it said that rents could remain flat or continue to weaken this year "due to increasing supply and the tighter rental budgets of overseas nationals".
The number of rents signed in January through March climbed 4 per cent to 13,077 transactions islandwide from the previous year.
This was mainly due to a strong surge of demand in the city fringe, which accounted for 37 per cent of the total number of rents - the region's biggest slice of the pie since 2004, Savills said.