Part 3/12:
This sustained growth is primarily fueled by strong demand from expatriates, local tenants, and a persistent housing shortage stemming from pandemic-related delays in project completions. However, with more options becoming available later in the year, tenants might experience some relief, leading to a potential slowdown in rent escalation. On a broader scale, moderate rent growth of around 5% is anticipated across Singapore, considering the cautious economic outlook and potentially restrained hiring trends among businesses.