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My husband and I are thinking to purchase a condo for rental investment. But, recently a few of our friends who used to do that told us it’s hard to get new tenants or renew tenancy after the lease is over. We are also being told by a few property agents that there are ample of supply of rental property as there are quite a handful condos was TOP last year and this coming months which make rental market really competitive. I have a friend told me his agent took 6 months to rent out his condo although his condo is very centralized located (near town).

We are wondering is rental market already started deteriorating. If yes, will this affect the property price in the coming months?

Thanks

Cheers
Mrs. Sum