The Official Rental Performance Index, August 2023
In August, there were a total of 53,227 registered rental leases, of which 54.97 % were new contracts while 45.03 % were renewed. Annual contracts acquired 92.29 % of the total contracts, while 7.73 % were non-annual.
August 2023 witnessed a 12.74% increase in rental contracts as compared to August 2022, and 9.76% increase as compared to July 2023. The tenant’s market supported by the renewed contracts. With 23,970 contracts, the registered contracts increased by 28.63% as compared to August 2022. While the new contracts increased by 2.38% compared to the previous year and 19.37% compared to July 2023.