SINGAPORE: Home rents have risen to a seven-year high in Singapore, already one of the world’s most expensive cities, even though the city-state’s population has dipped in the past two years.
The rental price index of private residential properties increased to 114.2 in the fourth quarter of 2021, up 9.9% from the same period a year earlier, according to Singapore government data, as demand outstrips supply that has been hit by construction delays because of Covid-19 curbs.
“I need to win the lottery,” said American Aimee Yager as she described her weeks-long house hunt in Singapore and only finding a new 4-1/2-bedroom home for her family of four after raising her monthly rental budget to about…
