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Singapore Rental News

Dec 17 2016

Rents for private homes, HDB flats see steeper slide in November: SRX Property

RENTALS.SG brings you the following summarised article that appeared in the Staits Times on December 14 2017 and was attributed to SRX Property.

SINGAPORE - The slide in rents for non-landed private homes and HDB flats accelerated in November, slipping by 0.8 per cent and 0.9 per cent respectively from October,
according to flash estimates released by SRX Property on Wednesday (Dec 14).

The rents for condominiums and private apartments also saw their fifth straight monthly fall in November.

The rents fell across all locations, down 0.7 per cent in the prime districts and 0.9 per cent in the city fringes and outlying districts.

Year on year, rents last month were down 4.5 per cent from November 2015, and 18.9 per cent off their peak in January 2013, SRX Property said.

The number of condo and apartment leasings also dropped, dipping 0.5 per cent to 3,811 units from 3,830 in October.

Year on year though, rental volume last month was 20.8 per cent higher than the 3,156 units rented in November 2015.

The HDB rental market also saw fewer leasings, with an estimated 1,747 flats rented in November, a 1.3 per cent decrease from 1,770 units let out in October. Year on year, rental volume last month decreased by 7.3 per cent from November 2015.

As for HDB rents, those for executive flats rose 0.8 per cent from October, but the smaller three-room, four-room and five-room units dropped by 1.6 per cent, 0.5 per cent and 1.1 per cent respectively.

Year on year, HDB rents last month were down by 4.6 per cent from November 2015 and 12.2 per cent off their peak in August 2013.