CCR = Core Central Region
RCR = Rest of Central Region
OCR = Outside Central Region
A. Non-Landed Private Residential Rental Market
Overall rental prices decrease 0.9% from November 2019. RCR rents experienced a marginal 0.1% increase while CCR and OCR decrease by 1.7% and 1.1% respectively.
Volumes decrease 2.8% month-on-month. An estimated 4,011 units are rented in December 2019 as compared to 4,126 units in November 2019.
B. HDB Rental Market
December 2019 HDB rents increase 0.1% from November 2019. 4 Room and Executive rents rise by 0.6% and 1.1% respectively, while 3 Room rents fall by 1.4% and 5 Room rents remain flat. According to Town Maturity, Mature Estates rents increase by 0.2% while Non-Mature Estates rents decrease by 0.1%.
According to the SRX Property Price Index for HDB Rentals:
Volumes decrease 8.6% month-on-month. An estimated 1,753 HDB flats are rented in December 2019 versus 1,917 units in November 2019.
CCR and RCR prices increase 0.8% in December 2019; OCR decrease by 1.0%.
According to the SRX Price Index for Non-Landed Private Residential Resale:
An estimated 650 units were resold Dec 2019. This is a 15.4% decrease, compared to 768 units resold in November.
The highest transacted price for a resale unit in the month was achieved at $17.9 million at Four Seasons Park.
Overall Transaction Over X-Value (T-O-X) is NEGATIVE $2,000 in December 2019. This represented no change as compared to November 2019. The median T-O-X for Non-Landed Private Residential measures whether people are overpaying (POSITIVE T-O-X) or underpaying (NEGATIVE T-O-X) the SRX X-Value estimated market value.
HDB resale prices decrease by 0.3% in December 2019 over November 2019. HDB 3 Room, 4 Room and 5 Room experience monthly price decreases of 0.8%, 0.4% and 0.1%. Meanwhile, HDB Executive prices increase by 0.5%. Both Mature and Non-Mature Estates prices decrease by 0.4% and 0.2%, respectively, as compared to November 2019.
According to the SRX Property Price Index for HDB Resale:
1,858 HDB resale transactions in December 2019,representing a 3.0% decrease from November 2019.
The highest transacted price for a resale flat in the month was achieved at $1,056,800 by a 4-Room unit at Pinnacle@Duxton; In Non-Mature Estates, the highest transacted price was achieved at $871,000 by a 5-Room Premium Apartment Loft unit at Treelodge@Punggol.
Overall median Transaction Over X-Value (TO-X) is POSITIVE $1,000 in December 2019. This represented an increase of $2,000 from November 2019. The median T-O-X for HDB measures whether people are overpaying (POSITIVE T-O-X) or underpaying (NEGATIVE TO-X) the SRX Property X-Value estimated market value.
An estimated 4,785 flats will become eligible to join the HDB resale market in the next three months, based on SRX data, as these units approach their respective official 5-year Minimum Occupation Period.
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