Wednesday, January 13, 2016

HDB rents down 0.6% in December; private apartment rents flat: Property index

The number of HDB flats rented rose 1.5 per cent from the previous month, while the number of private apartments rented fell 7 per cent.

SINGAPORE: Rental prices for Housing and Development Board (HDB) flats dipped 0.6 per cent from the previous month in December, while rents for private apartments remained relatively flat with a 0.1 per cent increase, according to a local property index.

Year-on-year, rental prices for HDB flats in December fell 4 per cent, and were down 8.6 per cent compared to its peak in August 2013, flash estimates from SRX Property showed.

Rents for three-room flats fell 0.6 per cent, while four- and five-room flats both saw a decline of 0.8 per cent. Rents for executive flats remained unchanged.

The number of HDB flats rented rose 1.5 per cent in December, with an estimated 1,817 flats rented, up from 1,790 units the previous month.


Rental prices for non-landed private properties remained relatively flat, inching up by 0.1 per cent from the previous month. Year-on-year, rents were down 5.4 per cent, according to SRX Property.

Private apartments in the Core Central Region and Outside Central Region saw increases in rents of 1 per cent and 0.1 per cent, respectively, while units in Rest of Central Region declined in rents by 0.6 per cent.

Rental volume declined 7 per cent, with an estimated 3,093 units rented, down from 3,325 the previous month.