Non-Landed Private Rents increase by 1.1%; HDB Rents decrease by 0.8% in February 2017.

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.

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.

• 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%.

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.

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.

• Year-on-year, rental volume in February 2017 decreased by 12.4% from February 2016.