July Non-Landed Private Rents Decrease by 0.4%, HDB Rents Increase by 0.5% | Singapore Property News

July Non-Landed Private Rents Decrease by 0.4%, HDB Rents Increase by 0.5%

11 Aug 2016
Property Data
A. Non-landed Private Residential Rental Market

1. Private rents decrease by 0.4% in July. According to SRX Property Price Index for Non-landed Private Residential Rentals, rents decreased by 0.4% in July 2016 compared to June 2016. Non-Landed Private Residential units rents in CCR and OCR decreased by 0.7% and 1.1%. RCR increased by 0.8% respectively.

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

  • Year-on-year, rents in July 2016 were down by 4.8% from July 2015. In individual sectors, CCR, RCR and OCR posted 1.6%, 7.0% and 6.3% year-on-year decrease in price, respectively.
  • Rents in July 2016 was 16.9% down compared to its peak in January 2013.
  • June’s change was revised from no change to 0.1% decrease.

2. Rental volume decreases by 5.0%. According to SRX Property, an estimated 4,100 Non-landed Private Residential units were rented in July 2016. This represented a 5.0% decrease from 4,316 units rented in June 2016.

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  • Year-on-year, rental volume in July 2016 was 3.4% lower than 4,243 units rented in July 2015.
B. HDB Rental Market

1. HDB rents increase by 0.5%. According to SRX Property Price Index for HDB Rentals, rents increased by 0.5% from June 2016 to July 2016. HDB 3 Rooms and HDB 4 Rooms increased by 1.3% and 0.8% respectively, HDB 5 Rooms and Executive rents posted a 0.8% and 0.4% decrease, respectively.

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According to SRX Property Price Index for HDB Rentals:

  • Year-on-year, rents in July 2016 were down by 3.8% from July 2015.
  • Rents in July 2016 were down 9.6% compared to its peak in August 2013.

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

  • Rents in Mature and Non-mature Estates increased by 0.7% and 0.2% respectively.
  • Year-on-year, rents of Mature Estates in July 2016 slipped 3.6% from July 2015.
  • Year-on-year, rents of Non-mature Estates in July 2016 dropped 4.1% from July 2015.

2. HDB rental volume decreases by 6.1%. According to SRX Property, an estimated 1,653 HDB flats were rented in July 2016, a 6.1% decrease from 1,760 units rented in June 2016.

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  • Year-on-year, rental volume in July 2016 decreased by 10.3% from July 2015.
Source: SRX
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