Although private residential home prices rise 1.2% for the first half of this year as compared to last year, rent rates had fallen 1.2% in Q2 despite rising 1.1% in Q1. Rental transaction had decline below 20000 in Q2, the first time it had fallen below this mark since Q4 2017. This is not surprising due to travel restrictions and also the increased in the unemployment rates. Analysts are also expecting rental rates to fall by 3% for the rest of the year with more renewals as most tenants chose to stay put in their current place of residences.
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