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SRX Research

Non-Landed Private Rents decrease by 1.0%; HDB Rents decrease by 0.5% in March 2017.

Posted on 11 Apr 2017

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A. Non-Landed Private Residential Rental Market

1. Private rents decrease by 1.0% in March. According to SRX Property Price Index for Non-landed Private Residential Rentals, rents decreased by 1.0% in March 2017 compared to February 2017. Non-Landed Private Residential units rents in CCR, RCR and OCR decreased by 1.2%, 1.3% and 0.7% respectively.

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

  • Year-on-year, rents in March 2017 were down by 3.9% from March 2016. In individual sectors, CCR, RCR and OCR posted 3.9%, 3.7% and 4.1% year-on-year decrease in price, respectively.
  • Rents in March 2017 was 19.1% down compared to its peak in January 2013.
  • Price change was revised from 1.1% to 0.7% in February 2017.
2. Rental volume increase by 14.6%. According to SRX Property, an estimated 4,549 Non-landed Private Residential units were rented in March 2017. This represented a 14.6% increase from 3,971 units rented in February 2017.

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  • Year-on-year, rental volume in March 2017 was 1.3% lower than 4,611 units rented in March 2016.


B. HDB Rental Market

1. HDB rents decrease by 0.5%. According to SRX Property Price Index for HDB Rentals, rents decreased by 0.5% from February 2017 to March 2017. HDB 3 Rooms, HDB 4 Rooms and HDB Executive decreased by 1.1%, 0.2% and 2.7%. On the other hand, HDB 5 Rooms increased by 0.1%.

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According to SRX Property Price Index for HDB Rentals:

  • Year-on-year, rents in March 2017 were down by 5.1% from March 2016.
  • Rents in March 2017 were down 13.9% compared to its peak in August 2013.
  • No revision to price change of -0.5% in February 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 0.5% and Non-mature Estates decreased by 0.5%.
  • Year-on-year, rents of Mature Estates in March 2017 slipped 5.1% from March 2016.
  • Year-on-year, rents of Non-mature Estates in March 2017 dropped 4.3% from March 2016.

 2. HDB rental volume increases by 32.1%. According to SRX Property, an estimated 2,045 HDB flats were rented in March 2017, a 32.1% increase from 1,546 units rented in February 2017.

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  • Year-on-year, rental volume in March 2017 decreased by 7.5% from March 2016.
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