How has Covid-19 impacted Singapore’s home rental market?

COVID-19 will no doubt leave a trail of destruction on the real estate landscape in Singapore. Activities in the real estate market have been curtailed by stricter border control, tighter safe distancing measures and particularly the implementation of the ‘circuit breaker’. The home rental market is unlikely to go unscathed as it is a derived demand. How then, will Covid-19 impact the home rental market? Singapore’s Circuit Breaker Before the outbreak, Singapore’s rental market was robust with an increasing influx of foreign professionals. Based on the latest data released by the Ministry of Manpower (MOM), a total of 189,000 Employment Passes were approved in 2019 - 3,200 more than in 2018.

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