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SRX Research

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

Posted on 15 Mar 2017

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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.
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