Private apartments are seen against the backdrop of the Marina Bay Sands hotel and the Singapore Flyer observatory wheel in Singapore on March 23, 2022. Rents in prime residential areas increased the most in Singapore, Lisbon and Berlin in the first half of the year, according to a new research report by real estate services company Savills. Data from the British company showed prime rents in Lisbon surged the most by 13.9% from Dec 2022 to June 2023, followed by Singapore at 13.6% and 9.2% for Berlin during the same period. The increase in Berlin's prime rents was, however, due to an influx of rich residents, the research said. The significant hike in Singapore's prime rents was due to construction delays during the Covid-19 pandemic.

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Persons: Savills, Alan Cheong, Cheong Organizations: Singapore Flyer, Savills Research, Consultancy Locations: Marina, Sands, Singapore, Lisbon, Berlin, British