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SRX Research

A. Non-Landed Private Residential Rental Market

1. Private rents increase by 1.1% in February. 
According to SRX Property Price Index for Non-landed Private Residential Rentals, rents increased by 1.1% in February 2017 compared to January 2017. Non-Landed Private Residential units rents in CCR, RCR and OCR increased by 1.2%, 0.8% and 1.2% respectively.

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

  • Year-on-year, rents in February 2017 were down by 3.8% from February 2016. In individual sectors, CCR, RCR and OCR posted 2.9%, 4.4% and 3.9% year-on-year decrease in price, respectively;
  • Rents in February 2017 was 18.1% down compared to its peak in January 2013;
  • No price revision to price change of +1.1% in Jan 2017.
2. Rental volume decreases by 1.0%. According to SRX Property, an estimated 3,757 Non-landed Private Residential units were rented in February 2017. This represented a 1.0% decrease from 3,796 units rented in January 2017.

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  • Year-on-year, rental volume in February 2017 was 12.6% higher than 3,336 units rented in February 2016.


B. HDB Rental Market
 

1. HDB rents decrease by 0.8%. According to SRX Property Price Index for HDB Rentals, rents decreased by 0.8% from January 2017 to February 2017. HDB 3 Rooms, HDB 4 Rooms and HDB 5 Rooms decreased by 1.2%, 0.3% and 1.3% respectively. On the other hand, HDB Executive increased by 1.0%.

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According to SRX Property Price Index for HDB Rentals:

  • Year-on-year, rents in February 2017 were down by 4.8% from February 2016.
  • Rents in February 2017 were down 13.4% compared to its peak in August 2013.
  • Price change was revised from 0.6% to 0.7% in January 2017.
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According to SRX Property Price Sub-Indices for HDB Rentals in Mature and Non-mature Estates:

  • Rents in Mature Estate decreased by 1.3% and Non-mature Estates decreased by 0.3%.
  • Year-on-year, rents of Mature Estates in February 2017 slipped 5.5% from February 2016.
  • Year-on-year, rents of Non-mature Estates in February 2017 dropped 4.1% from February 2016.
2. HDB rental volume increases by 1.2%. According to SRX Property, an estimated 1,477 HDB flats were rented in February 2017, a 1.2% increase from 1,459 units rented in January 2017.

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  • Year-on-year, rental volume in February 2017 decreased by 12.4% from February 2016.
1. Non-landed Private Residential Resale prices increased by 0.9% in February 2017 compared to January 2017. In individual sectors, CCR, RCR and OCR recorded a price increase of 1.0%, 0.8% and 0.9%, respectively.

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According to the SRX Non-Landed Private Residential Price Index:

∙         Year-on-year, prices in February 2017 increased by 1.8% from February 2016. In individual sectors, CCR, RCR and OCR recorded a year-on-year price increase of 4.8%, 0.7%, 0.7% respectively.

∙         February 2017 prices were down by 6.0% from the recent peak in January 2014.

∙         Price change in January 2017 was revised from 1.1% to 1.0%. 

2. Resale volume increases by 31.2%. According to Non-landed Private Residential Resale data compiled by SRX Property, an estimated 694 Non-landed Private Residential units were resold in February 2017. This is a 31.2% increase compared to 529 units resold in January 2017.

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∙         Year-on-year, resale volume in February 2017 was 77.9% higher compared to 390 units resold in February 2016;

∙         Resale volume was down by 66.1% compared to its peak of 2,050 units resold in April 2010.

3. Overall median Transaction Over X-Value (TOX) decreases in February 2017. The median T-O-X for Non-Landed Private Residential measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

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∙         The median T-O-X in February 2017 is NEGATIVE $10,000, This is a $6,000 decrease compared to NEGATIVE $4,000 in January 2017.

4. District 18 posts highest median T-O-X. For districts with more than 10 resale transactions in February 2017, District 18 (Tampines, Pasir Ris) posted the highest median T-O-X at POSITIVE $9,000.

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This means that a majority of the buyers in this district purchased units above the computer-generated market value.


5. Among relatively active districts, District 13 posts the most negative median T-O-X. District 13 (Macpherson, Braddell) posted a T-O-X of NEGATIVE $30,000.

This means that a majority of the buyers in these districts purchased units below the computer-generated market value.

HDB Mature estates buck the trend

Posted on 09 Mar 2017

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HDB Resale Prices decrease by 0.3% in Feb; Volume decreases by 8.5%.
 
Compared to a year ago, prices decreased 0.6%, led by a decline of 1.9% in non-mature estates. Mature estates buck the trend and increased by 1.1% in the same period.
Year-on-year, private non-landed rents down 5.0% last month compared with Jan 2016, with the smallest decline seen in CCR

A. Non-Landed Private Residential Rental Market

1. Private rents increase by 1.3% in January. According to SRX Property Price Index for Non-landed Private Residential Rentals, rents increased by 1.3% in January 2017 compared to December 2016. Non-Landed Private Residential units rents in CCR, RCR and OCR increased by 0.9%, 1.6% and 1.3% respectively.

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

  • Year-on-year, rents in January 2017 were down by 5.0% from January 2016. In individual sectors, CCR, RCR and OCR posted 2.9%, 6.1% and 5.7% year-on-year decrease in price, respectively.
  • Rents in January 2017 was 18.9% down compared to its peak in January 2013.
  • Price change in December 2016 was revised from -1.3% to -1.4%.

2. Rental volume increases by 5.8%.
 According to SRX Property, an estimated 3,813 Non-landed Private Residential units were rented in January 2017. This represented a 5.8% increase from 3,605 units rented in December 2016.

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  • Year-on-year, rental volume in January 2017 was 0.7% higher than 3,785 units rented in January 2016.


B. HDB Rental Market

1. HDB rents decrease by 0.6%. According to SRX Property Price Index for HDB Rentals, rents decreased by 0.6% from December 2016 to January 2017. HDB 4 Rooms, HDB 5 Rooms and HDB Executive decreased by 0.8%, 1.5% and 0.3% respectively. On the other hand, HDB 3 Rooms increased by 0.2%.

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According to SRX Property Price Index for HDB Rentals:
  • Year-on-year, rents in January 2017 were down by 4.8% from January 2016.
  • Rents in January 2017 were down 12.7% compared to its peak in August 2013.
  • Price change was revised from 0.2% to 0.1% in December 2016.

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

  • Rents in Mature Estate decreased by 0.4% and Non-mature Estates decreased by 0.8%.
  • Year-on-year, rents of Mature Estates in January 2017 slipped 5.1% from January 2016.
  • Year-on-year, rents of Non-mature Estates in January 2017 dropped 4.5% from January 2016.

2. HDB rental volume decreases by 16.1%. According to SRX Property, an estimated 1,427 HDB flats were rented in January 2017, a 16.1% decrease from 1,701 units rented in December 2016.

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  • Year-on-year, rental volume in January 2017 decreased by 27.7% from January 2016.

Year-on-Year, overall prices increase 0.3%, led by CCR which recorded a 2.7% increase; Overall volume up 30% year-on-year

1. Non-landed Private Residential Resale Prices increase by 1.1% in January 2017. 
Non-landed Private Residential Resale prices increased by 1.1% in January 2017 compared to December 2016. In individual sectors, CCR, RCR and OCR recorded a price increase of 1.9%, 1.5% and 0.4%, respectively.

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According to the SRX Non-Landed Private Residential Price Index:

∙         Year-on-year, prices in January 2017 increased by 0.3% from January 2016. In individual sectors, RCR and OCR recorded a year-on-year price decrease of 0.1% and 1.1% respectively. On the other hand, CCR posted a year-on-year price increase of 2.7%.

∙         January 2017 prices were down by 6.8% from the recent peak in January 2014.

∙         Price change in December 2016 was revised from 0.4% to 0.5%. 

2. Resale volume increases by 9.1%. According to Non-landed Private Residential Resale data compiled by SRX Property, an estimated 526 Non-landed Private Residential units were resold in January 2017. This is a 9.1% increase compared to 482 units resold in December 2016.

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∙         Year-on-year, resale volume in January 2017 was 29.9% higher compared to 405 units resold in January 2016;

∙         Resale volume was down by 74.3% compared to its peak of 2,050 units resold in April 2010.

3. Overall median Transaction Over X-Value (TOX) increases in January 2017. The median T-O-X for Non-Landed Private Residential measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

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         The median T-O-X in January 2017 is NEGATIVE $4,000, This is a $1,000 increase compared to NEGATIVE $5,000 in December 2016.

4. District 23 posts highest median T-O-X. For districts with more than 10 resale transactions in January 2017, District 23 (Bukit Panjang, Choa Chu Kang) posted the highest median T-O-X at POSITIVE $2,000.

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This means that a majority of the buyers in this district purchased units above the computer-generated market value.

5. Among relatively active districts, District 15 and 16 posts the most negative median T-O-X. District 15 and 16 (Katong, Joo Chiat, Amber Road, Bedok, Upper East Coast) posted a T-O-X of NEGATIVE $25,000.

This means that a majority of the buyers in these districts purchased units below the computer-generated market value.

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