Rents for HDB and Private Flats Decline Again in August | Singapore Property News

Rents for HDB and Private Flats Decline Again in August

09 Sep 2015
Property Data

Headline:  Non-landed private home rents slide further in August 2015

A. Non-landed Private Residential Rental Market


1. Private rents declined 0.4%. According to the SRX Property Price Index for Non-landed Private Residential Rentals, rents decreased by 0.4% in August 2015 compared to July 2015. Non-landed Private Residential units in CCR and OCR experienced decreases in rents of 0.7% and 1.3% respectively whereas RCR had a 0.8% increase.


According to the SRX Property Price Index for Non-landed Private Rentals:

  • Year-on-year, rents in August 2015 are down 5.7% from August 2014.
  • Rents in August are 12.9% down compared with its peak in January 2013.
  • There is no revision for rents change in July.

2. Rental volume decreased 1.6%.
  According to the SRX Property, an estimated 4,097 Non-landed Private Residential units were rented in August 2015. This represented a 1.6% decrease from 4,163 units rented in July 2015.

  • Year-on-year, rental volume in August 2015 is 13.8% higher than 3,601 units rented in August 2014.

 

 
B. HDB Rental Market

1. HDB rents declined 0.6% in August.  According to the SRX Property Price Index for HDB Rentals, rents declined by 0.6% from July to August 2015. HDB 3 and 4 Room flats posted 1.1%, and 0.9% decreases in rents respectively, while 5 Room and Executive flats saw 0.1% and 0.7% increases in rents.

According to the SRX Property Price Index for HDB Rentals:

  • Year-on-year, rents in August 2015 are down 3.6% from August 2014.
  • Rents in August are 6.6% down compared with its peak in August 2013.
  • Rents change in July has been revised from 0.1% decrease to 0.1% increase.


According to the SRX Property Price Sub-Indices for HDB Rentals in Mature and Non-mature Estates:

  • Rents in Mature Estates experienced a 0.8% decrease, while rents in Non-mature Estates posted a 0.4% decrease in August 2015.
  • Year-on-year, rents of Non-mature Estates in August 2015 dropped 4.4% from August 2014.
  • Year-on-year, rents of Mature Estates in August 2015 slipped 3.7% from August 2014.

2. HDB rental volume decreased 6.1% in August. According to the SRX Property, an estimated 1,646 HDB flats were rented in August 2015, a 6.1% decrease from 1,752 units rented in July 2015.

  • Year-on-year, rental volume in August 2015 is almost flat compared to 1,668 units rented in August 2014.
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