For the full year, private non-landed rentals fell 6.2% in 2016. This represents a 20% drop from the peak in 2013.
A. Non-Landed Private Residential Rental Market
1. Private rents decrease by 1.3% in December. According to SRX Property Price Index for Non-landed Private Residential Rentals, rents decreased by 1.3% in December 2016 compared to November 2016. Non-Landed Private Residential units rents in CCR and RCR decreased by 1.7% and 2.6% respectively, on the other hand OCR remain unchanged.
According to SRX Property Price Index for Non-landed Private Rentals:
- Year-on-year, rents in December 2016 were down by 6.2% from December 2015. In individual sectors, CCR, RCR and OCR posted 6.2%, 6.3% and 6.1% year-on-year decrease in price, respectively.
- Rents in December 2016 was 19.9% down compared to its peak in January 2013.
2. Rental volume decreases by 2.2%. According to SRX Property, an estimated 3,691 Non-landed Private Residential units were rented in December 2016. This represented a 2.2% decrease from 3,775 units rented in November 2016.
- Year-on-year, rental volume in December 2016 was 17.1% higher than 3,152 units rented in December 2015.
B. HDB Rental Market
1. HDB rents increase by 0.2%. According to SRX Property Price Index for HDB Rentals, rents increased by 0.2% from November 2016 to December 2016. HDB 3 Rooms, HDB 5 Rooms and HDB Executive increased by 0.8%, 0.6% and 1.4% respectively. On the other hand, HDB 4 Rooms decreased by 0.5%
According to SRX Property Price Index for HDB Rentals:
- Year-on-year, rents in December 2016 were down by 3.7% from December 2015.
- Rents in December 2016 were down 12.0% compared to its peak in August 2013.
According to SRX Property Price Sub-Indices for HDB Rentals in Mature and Non-mature Estates:
- Rents in Mature Estate decreased by 0.1% and Non-mature Estates increased by 0.4%.
- Year-on-year, rents of Mature Estates in December 2016 slipped 4.2% from December 2015.
- Year-on-year, rents of Non-mature Estates in December 2016 dropped 3.2% from December 2015.
2. HDB rental volume decreases by 4.6%. According to SRX Property, an estimated 1,689 HDB flats were rented in December 2016, a 4.6% decrease from 1,771 units rented in November 2016.
- Year-on-year, rental volume in December 2016 decreased by 13.5% from December 2015.