Non-Landed Private Rents up 1.3% in Jan; HDB Rents down 0.6% in January 2017 | ON TRACK
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Property Data15 Feb 2017

Non-Landed Private Rents up 1.3% in Jan; HDB Rents down 0.6% in January 2017

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.

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