In the second month of circuit breaker, transaction volume for private residential and HDB apartments may have hit the bottom but analyst still expects rental demand to remain weak. SRX data showed a slight 1% increase in non-landed residential home in May as compared to previous month. However, private residential rental volume is still 45.7% lower as compared to last year and 38.8% lower than the 5-year average for the month of May.
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