Rental rates rose for the month of July for both HDB and private residential properties, although rental volume fell due to travel restriction and job losses as a result of the pandemic. HDB rental increased by 1.4%, up from the month of June, a higher percentage than the 0.4% recorded for private residential properties. Analysts observed that the increase in HDB rents is likely a result of border restriction with Malaysia as Malaysians need to find temporary accommodation in Singapore due to travel restrictions.
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